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Updated over 8 years ago on . Most recent reply

User Stats

44
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6
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Sabi Const
  • New York, NY
6
Votes |
44
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1st investment property - purchase question.

Sabi Const
  • New York, NY
Posted

I have a property that is a 'short sale' which I am interested in purchasing.

The bank just accepted my full cash offer and I have a few questions as this is my first purchase. 

After requesting the HUD, I see that the bank is paying the real estate agent 6% of the purchase price. Also, since this is a cash offer, I have a few questions on the settlement charges.

The purchase price is $185k... what should be the average closing costs in NJ? 

Title examination
Realty Transfer Fee
Realty Transfer Fee Tax

As far as I am concerned, what other additional costs should a buyer pay beyond the title search and transfer tax?

Thank you for your time and comments!

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