Cash payment to Homepath, are "fees" necessary ?

If I offer to pay cash on a forclosed property through Homepath will I still be expected to pay for closing fees, title insurance, ect…? Keep in mind that the property holds an attached (on foundation) Doublewide with an unretired/not detitled title. I’m basically paying for just the property and the 3br/2ba home across from a lake is just a plus since it is not yet considered real property. My intention is to purchase and retire the title myself-though this may be easier to use a tittle co., it may be costly. I’d like to do a quick resale and/or owner financing. This would be my first deal outside of several standard: buy-live in-improve-sell4profit. Any thoughts or creative ideas would be appreciated.


Any lender has to escrow / title the property to you and they know it needs to be with title insurance so everything is above board. If you would pay for closing fees, title, etc. normally with a home path property purchase then nothing changes. 

Any lender selling a property will absolutely require title / escrow and I have never heard of them making an exception!

Escrow / title 2.5% seller / 2% buyer is standard and then plus transfer fee’s if applicable.


Paying cash for a property just means you don’t have any costs of financing to pay for. You will still have settlement costs such as attorney fee, deed preparation, and recording fees. You always want to purchase title insurance, even if there is no financing involved.

Thanks guys, I had recently read from a few that I could skip tittle insurance. I think I’ll go for it anyway.