Comments on: Are there closing costs when buying a home with cash ?

By: doinou

doinou — Thu, 15 Jul 2010 10:48:58 +0000

The closing attorney needs to get paid. You should have an owners title insurance policy. You may have to pay a prorated amount of annuall property taxes, and you should have an insurance policy.

By: Doctor Deth

Doctor Deth — Thu, 15 Jul 2010 10:48:58 +0000

the only closing costs that would NOT be there would be mortgage related costs – so you will still need cash for the rest (figure 3-5% of the house price)

By: Amber

Amber — Thu, 15 Jul 2010 10:48:57 +0000

There will be some costs but exactly what will depend on your contract and the state you are in. In my state, a cash buyer traditionally still pays for 1/2 the closing fee (attorney here, title company other places), recording of the deed, etc. In my area, it would probably be $1,000 or less.