buying house in san diego (sales, real estate, rentals)

[pi-chan]

hi tried the search but didnt get what i was looking for.

what are the costs of buying a house in San Diego ... tax fee, is there a tax calculator.
How high are the income tax for rentals. Which insurance to choose? Other costs?
Purchase and sale tax. tried to google the tax things but all i find is only a note that there is tax to pay but not how much ...
Purchase additional charges, like notary fees etc. IN my country it is abot 10-14 % of the purchase price. Is here a percenage common as well?

thank you for answearing me.

[ubringliten]

Sorry, can't help you here, but a real estate agent can tell you all of that.

[EscapeCalifornia]

1% annual property tax. Will be more if you live in an area with Mello Roos. Be sure the check that out.

No sales tax on real estate.

Net rental income is income to you (just like a job) and will be taxed as such. Tax rates vary with income level.

Most of the transaction costs are usually paid by the seller although you will usually have to pay the costs associated with obtaining a loan, usually around 1%. But a lot of times you can get the seller to credit you an amount (like $5000) through escrow to cover that.

[esmith143]

Homeowners insurance is around $100 a month I think? Depends on the house. You may want to get earthquake insurance, it's sold separately, also depends on the house and coverage, but $200/month is a likely figure.

You will have to pay for the inspection of the property ($300-$500); title insurance (~$1000); closing agent fee (~$1000).
If you are not a resident, it may be difficult or impossible to get a loan. Typically banks want to see proof of income (a job in the U.S.) before they loan you money. If you do get one, you'll pay an appraisal fee (because the bank will arrange an appraisal to determine the true value of the property) (~$300), and a lender fee, which varies depending on terms of the loan.

The seller will pay to the seller's agent and the buyer's agent, typically 3% of the sales price to each.

[pi-chan]

thanks for the answers