How much could closing cost be....?

Question

on a 50,000 to 90,000 dollar condo that you buy with cash?

Answer 1

I'm about to close on a $200K condo. My closing costs came out to about $5000. It was a short sale and the bank refused to kick anything back. But, on a non-distressed purchase, it's customary for the buyer to request that the seller pay some of the buyer's closing costs.

As a rule of thumb, figure that closing costs come out to about 2.5% to 3% of the purchase price.

Answer 2

It's 5%  for NJ for seller or buyer cost- which is the fees.

2,500 to 4,500 goes to the agent.

Sounds like your buying the condo upfront with no mortage?

Answer 3

Typical closing costs run between 2 and 3 percent for the buyer.

Answer 4

Usually 3% to 5% according to this article, you should read it, they break down all the costs you can expect to pay, and they recommend asking for a HUD-1 statement, http://www.monitorbankrates.com/mortgage...

Answer 5

This question cannot be answered without the following information:

1)  What state and county do you live in?

2)  Is your credit good?

3) How much money are you putting down?

Answer 6

My buyer on a 242k condo paid 8593 in closing.  If you take out her lending costs (i.e. PMI Premium, Origination Fee) it was around $3k.  It included prorated taxes, title company charges, title insurance, recordation taxes all of which are a percentage of the sales cost so likely you wouldn't do more than $1-2k.  You're in a great position if you are paying cash for them to pay all your closing costs for you.

Answer 7

It  depends  on  what  state  or  country  you  live  in  and  if  you're  a  first  time  home  buyer   and  what  kind  of  mortgage  you  are  applying  for.