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Old 05-26-2007, 08:42 AM
 
89 posts, read 261,743 times
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Can anyone tell me what costs I will find upon the purchase of a house in Charlotte. The purchase will be "cash". Do I have to (in addition to the purchase price ) pay state or federal taxes on the purchase price ? Approx. how much would closing costs be ? Purchase price would be $ 150,000. I'm just interested on the info. as I'm planning the budget. Can't wait to move to Charlotte, we just need to sell our house in Miami, it has gotten worse to sell as time go by and the clock is ticking!!!! thanks , Alberto
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Old 05-26-2007, 09:05 AM
 
Location: South Charlotte
1,435 posts, read 5,229,486 times
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Attorney Fees-Cash deals usually equate to a smaller fee charged by them. Your looking at anywhere from $300-600 maybe more with extras. They are all different.

Deed Recording Fees-$75 maybe less

Home and Pest Inspection Costs-$300-500

There are a few other things that will be pro-rated and could work as a credit or debit like property taxes and HOA Fees. If you buy earlier in the year you will received a credit for unpaid property taxes during the time the Seller has owned the property.
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Old 05-26-2007, 09:05 AM
 
Location: Fort Mill, SC (Charlotte 'burb)
4,730 posts, read 17,791,333 times
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I am buying a house right now for 100k in SC. Lenders fees, etc add a lot to the closing costs. With cash, you will bypass those, but you will still need an attorney. Without lenders fees, i'd say $3-4000 on a 150k, but I am by no means an expert on the subject.
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Old 05-26-2007, 09:17 AM
 
Location: Concord, NC
189 posts, read 526,323 times
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I used to analyze these statistics for work. I usually tell people to add between 2% to 4% for closing costs. I am very conservative so I would take the highest number so there are no surprises when you hear the amount you need to bring at closing.
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Old 05-26-2007, 09:22 AM
 
Location: South Charlotte
1,435 posts, read 5,229,486 times
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Your not going to need anywhere near those figures because its a cash deal.

Lender fees, pre-paids, and escrows add a HUGE amount to your closing costs.
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Old 05-26-2007, 09:25 AM
 
Location: Concord, NC
189 posts, read 526,323 times
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Good catch with the cash deal. I obviously did not read the first post
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Old 05-26-2007, 09:41 AM
 
Location: Cornelius
2,314 posts, read 2,118,019 times
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While not necessary I would still recommend some sort of title insurance to protect yourself.

I believe Charlottean covered it!
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Old 05-26-2007, 09:43 AM
 
87 posts, read 297,608 times
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charlotte
agent... what if you're not paying with cash. what would approx closing cost be on a 150000 home?
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Old 05-26-2007, 09:46 AM
 
89 posts, read 261,743 times
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But what about sales taxes on the property at the time of purchase?
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Old 05-26-2007, 09:48 AM
 
Location: Cornelius
2,314 posts, read 2,118,019 times
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That's paid by the seller typically line 1203 on the HUD
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