I've been looking at picking up houses through the auction sites (Hubzu, Auction.com, etc) and I know that as the buyer I will be responsible for closing costs. But if I'm using private money to fund it as a "cash deal" then I wouldn't pay as much as I would if I were going to closing with traditional mortgage funds, right? Anyone have much experience with the auction sites that could shed some light on this? Should I figure 1%, or should I be higher. If the title is clear, and there is no back taxes then wouldn't I just be paying the county and city fees? Any help would be appreciated!
Ask your HML. They will have many of the same closing costs.