Estimates For Closing Costs

[Kwambe Smith]

Hello Fellow BP Members,

I am a newbie investor in the process of investing in tax delinquent vacant lots for the purpose or reselling. I've found a few properties that I'm interested in that I will be sending offer letters to.  My question is..How do I estimate what the closing costs will be for a real estate transaction. I would like to provide the prospective seller that information in my offer letter so that the potential costs would be transparent. I appreciate any feedback, insight or additional nuggets of information.   

Kind Regards,

Kwambe 

[Jessica Zolotorofe]

Yes, you would still need title insurance and inspection costs and transfer tax. Not sure if GA is an attorney state, but if so, that fee still applies (for the purchase, not lender's counsel, of course)