I'm cash buying a condo in Florida for 80k, how much closing costs do i have to pay?

Be sure you have an inspection done if you haven't already. As for closing costs that can vary, but shouldn't be more than 5000 at most I'd think. Ours on a 99,900.00 property came to 6000 and change after all the final stuff was configured. A lawyer isn't necessary, but would be smart.

you will decide to have a Realtor because of fact the FSBO would not have a consultant representing them. the corporation will pay the Realtor's cost. Your remaining expenditures are often your guy or woman. To get it decrease than settlement, your Realtor will decide to hold the earnest funds, on your behalf, of their have confidence account. the corporation additionally would ask for 10% or extra down, because of fact of it being a funds transaction and desiring evidence which you're severe. Your Realtor may even ascertain you receive a Residential belongings Disclosure variety and the different ideal types, which comprise Lead based Paint, if it applies. A FSBO would not advise the valuables is properly-known 'as is', so your Realtor will insist on you getting a house inspection and termite inspection. And in hiring a actual belongings lawyer, you would be assured that the call seek is performed and that the valuables is free of liens.

Good rule of thumb is about 3%, unless your broker is screwing you. But since the loan is so low it could be higher. You figure this.

1% origination

350 appraisal

20 credit

150 title closing

350 title insurance

100-150 recording fees

495 underwriting

Then you have your prepaids... those are not closing cost but go into escrow if you have an escrow account. I dont count those because thats your money not closing cost.

As to the first poster if you pay 5K in closing cost on an 80K loan, you are getting screwed. Should be around 2000-2500. AT MOST

Since you are paying cash you will have very little closing cost. It won't be anywhere near 3% since you have no origination fees and other mortgage fees. Is there homeowners association fees? At closing you will also have to pay one years homeowners insurance.