I want to know if I pay cash for a house (FSBO) how much should I allow for title co. fees (closing cost) since there is no loan.
And what would be required for getting a HML for rehab. How does this work from front to back with a HML or the process in which I could expect.
HML cost ?
Thank you for any response given.
As a rule allow 1% for escrow and title. If you already now which title & escrow co you are going to use, then just ask them. Tell them you want to open escrow on a bla bla $$$$ property and they will give you an estimate
Don’t forget to include other cost like the appraiser and inspector fees.
Note>> It’s better to over estimate your closing cost.
HML are all different, and each one will quote you different numbers. But basically they are just the lender, so you still have to add the escrow fees.
Thanks for the information.