I recently got an investor with $100,000 cash. Now if I go in and buy a property for cash, how is closing handled?
I’ve always done bank loans and closing cost’s are outrages! $3000 to $4000 per house.
Should I just close at an attornys office?
How can I save money when closing with cash?
Thx!
I don’t know if this varies state-to-state, but we’ve just used a title company directly before, and it’s up to you (but a good idea in a cash deal) to have your attorney go over all the documents for you.
The title company should still be able to give you some sort of a GFE of how much the various costs will be for title work, recording, etc.
Congrats!
Karla in Amarillo
I’m a loan officer and you don’t need a bank or mortgage company to close a deal. All closings that the company I work for does. do the closings at a title company. Closing costs are mostly envolved with financing. The title company will charge for title insurance, title search, notary fees, but that’s it and it’s nominal.
Charles