What are some typical fees when flipping contracts??
lcallen80
Good to meet you
I created an Excel for fees here is a brief run down of fees in a real estate transacton
Purchase Title Insurance
Purchase Title Insurance Binder
Purchase Escrow/attorney Fees
Purchase Natural Hazard
Purchase Notary Fee
Purchase transfer Tax
Purchase Doc Prep
Purchase Transaction Coordinator
Purchase Home Warranty
Purchase Recording Fees
Other
Other
Other
Resale Title Insurance
Resale Escrow/Attorney Fees
Resale Natural Hazard
Resale Notary Fee
Resale transfer Tax
Resale Document Prep
Resale Transaction Coordinator
Resale Home Warranty
Resale Recording Fees
Other
Other
Other
Home Inspection
Termite
Roof
A/C
Heater
A/C & Heater Combined
Electrical
Fireplace
Foundation
Plumbing
Other
First Mortgage monthly payment
Second Mortgage monthly payment
Third Mortgage Monthly Payment
Loan fees
Appraisal
Document fees
Other
Gardner
Power
Water
Pest Control
Association Dues
Property Management
Misc
Misc
Misc
homeowners
property Taxes
Special Accessment
Real Estate Commission
Real Estate Flat fee
Signs
Newspaper Ads
other
As for the cost associated with wholesaling… The largest cost is the money your spending not knowing how to buy the property yourself rather then selling to another investor. However I do understand that we all have to begin somewhere.
Good Luck