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    Del23t's Avatar
    Del23t Posts: 1, Reputation: 1
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    #1

    Oct 10, 2006, 06:42 AM
    Closing Cost for property
    I need to know what closing cost will be when buying property with cash. Seller states he has 14.5 acres for sale with only electric and states he's asking 16,500.00 plus closing costs. The property is off a dirt road and is being purchased for hunting here in NY State. I intend to pay the 16,500.00 cash and need to know what other expenses I will need to be prepared for.:)
    SSchultz0956's Avatar
    SSchultz0956 Posts: 121, Reputation: 10
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    #2

    Oct 10, 2006, 01:10 PM
    I don't have an exact answer, but if you are paying straight up cash, I'd renegotiate the price. You should totally get a reduction. I pay my rent four times a year, and I get it for a discounted price because instant money is more important to them.
    Dr D's Avatar
    Dr D Posts: 698, Reputation: 127
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    #3

    Oct 10, 2006, 07:34 PM
    "Normal Closing Costs" would include an Escrow fee to a Title Company; Owner's Title Insurance; Recordind fees. Those costs should be less than $1,000. The buyer and seller usually split the escrow and recording fees; the seller usually pays for the owner's policy, but does not have to agree to this. It is possible that in NY, the closing may be done by an attorney. Look up a local title co and get their costs.
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