Closing costs on cash sale/foreclosure
I'm looking at a deal where I would potentially be using a PML to fund a purchase. The property I'm looking at is a foreclosure. Since I would be using a PML, I think from the bank's point of view this would essentially be a cash transaction? If so, what are some typical closing costs that would still come up? I've always used a conventional loan prior to this and wanted to make sure I was accounting for the typical costs. I was going to review this with my real estate agent as well, but BP has been super helpful and wanted to get input here too! In a normal sale I think the seller pays for title insurance? With a bank owned property do they still typically do that? It would be in CA if that makes a difference. Thank you!