Settlement Costs? How much you pay? WHOA! (cheapest, appraisal, foreclosure)

[sulvaterry]

I purchased a foreclosure in 2018 and paid $100K cash for it.
My settlement costs were $490 cash. Cheapest, I have ever paid for a property conveyance.

Just curious, whats the least or most you have ever paid? Give some details.

[MrRational]

Originally Posted by sulvaterry

...paid $100K cash for it. My settlement costs were $490 cash.
Cheapest, I have ever paid for a property conveyance.

So... what does the HUD-1 show? ... And what/who DIDN'T get paid?

Give some details.

You first.

[1insider]

I've represented cash buyers in quite a few deals where their total closing costs were less than $300.

[Jkgourmet]

Doesn't a Cash purchase = no lender title insurance? No origination fee, application fee, appraisal, and those other pricey expenses.

[1insider]

Originally Posted by Jkgourmet

Doesn't a Cash purchase = no lender title insurance? No origination fee, application fee, appraisal, and those other pricey expenses.

Title companies will often try to hit a cash buyer with a settlement fee but I've asked and had it removed.

[oregonwoodsmoke]

It usually runs in the neighborhood of $5,000 if a mortgage is involved. As a generalization. It can vary and it can be a lot more or a little less.

[masssachoicetts]

200k property was about $4,000 with BOA.

[Brandon Hoffman]

Some threads should die a quick death. This is one. No details on what the costs are. Did he opt for title insurance? Any upfront insurance? HOA dues or tax pro-rations? It's really an absurd post without apples to apples costs in addition to the fact closing cost will vary by state. Was this a nice humble brag that he got a good deal, or did he simply make foolish decisions and forego some safety nets like homeowners and title insurance?

[WorldKlas]

Did you get Title Insurance provided by seller? If not, you may regret your low closing costs. We bought a foreclosure and the scammy prior owners tried to get the property back after we’d live there 3 years. Lucky we had Title Insurance.

[Jkgourmet]

Originally Posted by Brandon Hoffman

Some threads should die a quick death. This is one. No details on what the costs are. Did he opt for title insurance? Any upfront insurance? HOA dues or tax pro-rations? It's really an absurd post without apples to apples costs in addition to the fact closing cost will vary by state. Was this a nice humble brag that he got a good deal, or did he simply make foolish decisions and forego some safety nets like homeowners and title insurance?

Humble?