I will be purchasing a 3/2 condo in South Florida with cash in the upcoming days/weeks. What is a normal percentage relative to the purchase price of the unit that is owed to pay for closing costs?
I would also like to point out that my decision to not finance at these current low interest rates will not change. Please let’s stay off that topic as I am not looking to build wealth but reallocate capital.
Thank you for your time!
P.S. Does anybody have a link to a post or link that has a detailed checklist for due diligence for condo associations? (Reserves, 40 year inspection, rent to owner ratio etc)?
If you’re using a realtor they can give you an approximate closing costs for the transaction. Or, when doing a quick google search it looks like in Florida the average closing costs is about 2.58% of purchase price.