home closing costs

renovation · 10-30-2009, 02:42 PM

lets say i buy a $90.000 home .what should i figure closing costs should be? not bought a home in years and when i did buy mine i got it on a land contract.

zippyjuan · 10-30-2009, 04:15 PM

Things may vary but I dug out my figures. Selling price, $107,900. Ten percent down (that is part of what you pay at closing) plus a second mortgage for the next 10% (to avoid PMI and have 20% equity) left $86k. Initial payment on property taxes included in with the fees (pro-rated one month's at whatever percent of the month remained at closing). Lots of other things brought my total to $3,309 plus my down payment. They do sometimes over charge and give a rebate- I got back about $475 but don't recall if that is out of the $3,300 or that the $3300 was after the refund.

To be safe, you may figure about $4,000 to $5,000?

Then I had a stack of papers literally about an inch tall to sign.

renovation · 10-30-2009, 04:58 PM

zippyjuan
thanks for the figures i know what to exspect! even do were trying to get the seller to pick them up ~

renovation · 11-02-2009, 10:09 PM

the sell picked up the costs

my daughter was told today they accepted her 2nd offer .now she has to get the loan -she has a pre-approved loan but home has to be inspected. im not sure if means anything really - other then your credit looks good for blank amount of $$$$$. but if all works out per her realtor. she should have the keys in like 2 1/2 to 3 weeks . its a 3 bedroom ,3 bath 1450sf condo with a attached garage,community pool,and all sport lake just outside tampa. if all go's right i be going there to do some minor repairs for a couple weeks just before christmas ~

Markel · 11-03-2009, 05:10 PM

Quote:

Originally Posted by renovation

just outside tampa. if all go's right i be going there to do some minor repairs for a couple weeks just before christmas ~

Hey - my family will be heading down to our company house in Valrico - near Brandon - (we get to use it for $70 for the week) just before Christmas.

zippyjuan · 11-04-2009, 03:31 PM

Sounds exciting! A good inspector will search for hidden damages on things like heating/ air conditioning, hot water heater, cracks in walls, patched water damage, etc. which could require expensive fixes. A not so good inspector will just give it a quick once- over visually and say "OK". Then you get to the brain-numbing day of signing all those papers. Hopefully the condo association fees will not be too bad but at the same time that they maintain the property well. My association fees run $300 a month and includes my water and trash. Laundry coin operated down the hall. That and property taxes are an important part of the expenses on a condo purchase.

faither · 11-09-2009, 03:16 PM

Quote:

Originally Posted by renovation

its a 3 bedroom ,3 bath 1450sf condo with a attached garage,community pool,and all sport lake just outside tampa. if all go's right i be going there to do some minor repairs for a couple weeks just before christmas ~

Congrats and welcome to the neighborhood. Your money is going a lot further in Tampa than it did a few years ago.

Prngr44 · 11-03-2009, 11:51 AM

Sounds exciting!!

renovation · 11-04-2009, 08:46 PM

inspections set up for tuesday. good thing is im a general contractor by trade and there's not much other then heating and cooling /block and brick i can't repair if needed! also being her dad i can get away with doing the repairs as im not licensed in florida .there in florida its a Felony if you dont have a building license to work for a fee.
thats why i just vacation when i go to florida. not worth it to me to get a license there with all there requirements to get one.

renovation · 11-11-2009, 04:30 PM

well one suprize showed up in the inspection i was not aware of .(not seen tthe house personally) in one of the 3 baths the shower may need to be fully removed and replaced .this will not be a small job. it tile has been let go for so long it may of taken out the shower pan. i can handle the repair just it still be $600 or better repair plus my time ! this is why you should always get a home inspected before you commit to buying it. also try to get a inspector that is a member of (ASHI)America Society of Home Inspectors cert. it was well worth the $225.00 spent for his 54 page report. he included photo of the trouble spots and personal thoughts as to why it may of happen or be happening.

10-30-2009, 02:42 PM	#1
renovation Vice Admiral Join Date: Jan 2003 Location: by a lake in michigan Posts: 4,271	home closing costs lets say i buy a $90.000 home .what should i figure closing costs should be? not bought a home in years and when i did buy mine i got it on a land contract. __________________ be careful of what you wish for . you may get a ton of junk e-mail ! smile or f-off

10-30-2009, 04:15 PM	#2
zippyjuan Picture of the Day Guru Join Date: Oct 2002 Location: Sunny San Diego Posts: 8,708	Things may vary but I dug out my figures. Selling price, $107,900. Ten percent down (that is part of what you pay at closing) plus a second mortgage for the next 10% (to avoid PMI and have 20% equity) left $86k. Initial payment on property taxes included in with the fees (pro-rated one month's at whatever percent of the month remained at closing). Lots of other things brought my total to $3,309 plus my down payment. They do sometimes over charge and give a rebate- I got back about $475 but don't recall if that is out of the $3,300 or that the $3300 was after the refund. To be safe, you may figure about $4,000 to $5,000? Then I had a stack of papers literally about an inch tall to sign. __________________ I add new pictures to my photo gallery pretty regularly. You can see them here if you are interested: http://www.pbase.com/jeffryz

11-03-2009, 11:51 AM	#8
Prngr44 Rear Admiral Lower Half Join Date: Feb 2003 Location: St. Louis Posts: 2,232	Sounds exciting!! __________________ http://otthouse.blogspot.com

11-04-2009, 08:46 PM	#9
renovation Vice Admiral Join Date: Jan 2003 Location: by a lake in michigan Posts: 4,271	inspections set up for tuesday. good thing is im a general contractor by trade and there's not much other then heating and cooling /block and brick i can't repair if needed! also being her dad i can get away with doing the repairs as im not licensed in florida .there in florida its a Felony if you dont have a building license to work for a fee. thats why i just vacation when i go to florida. not worth it to me to get a license there with all there requirements to get one. Last edited by renovation : 11-04-2009 at 08:53 PM.

11-11-2009, 04:30 PM	#10
renovation Vice Admiral Join Date: Jan 2003 Location: by a lake in michigan Posts: 4,271	well one suprize showed up in the inspection i was not aware of .(not seen tthe house personally) in one of the 3 baths the shower may need to be fully removed and replaced .this will not be a small job. it tile has been let go for so long it may of taken out the shower pan. i can handle the repair just it still be $600 or better repair plus my time ! this is why you should always get a home inspected before you commit to buying it. also try to get a inspector that is a member of (ASHI)America Society of Home Inspectors cert. it was well worth the $225.00 spent for his 54 page report. he included photo of the trouble spots and personal thoughts as to why it may of happen or be happening. Last edited by renovation : 11-11-2009 at 04:42 PM.

10-30-2009, 04:58 PM	#3
renovation Vice Admiral Join Date: Jan 2003 Location: by a lake in michigan Posts: 4,271	zippyjuan thanks for the figures i know what to exspect! even do were trying to get the seller to pick them up ~

11-02-2009, 10:09 PM	#4
renovation Vice Admiral Join Date: Jan 2003 Location: by a lake in michigan Posts: 4,271	the sell picked up the costs my daughter was told today they accepted her 2nd offer .now she has to get the loan -she has a pre-approved loan but home has to be inspected. im not sure if means anything really - other then your credit looks good for blank amount of $$$$$. but if all works out per her realtor. she should have the keys in like 2 1/2 to 3 weeks . its a 3 bedroom ,3 bath 1450sf condo with a attached garage,community pool,and all sport lake just outside tampa. if all go's right i be going there to do some minor repairs for a couple weeks just before christmas ~

11-04-2009, 03:31 PM	#6
zippyjuan Picture of the Day Guru Join Date: Oct 2002 Location: Sunny San Diego Posts: 8,708	Sounds exciting! A good inspector will search for hidden damages on things like heating/ air conditioning, hot water heater, cracks in walls, patched water damage, etc. which could require expensive fixes. A not so good inspector will just give it a quick once- over visually and say "OK". Then you get to the brain-numbing day of signing all those papers. Hopefully the condo association fees will not be too bad but at the same time that they maintain the property well. My association fees run $300 a month and includes my water and trash. Laundry coin operated down the hall. That and property taxes are an important part of the expenses on a condo purchase.

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