I'm purchasing an investment property for about 150k, with cash, and wondering how much should closing cost? I'm paying for inspections, and don't need an appraisal. The closing attorney probably needs to do a title search, title insurance, transfer of deed, taxes and prepare closing paperwork, etc. etc. ?
Would appreciate someone who's done an all cash txn, to weigh in and tell me what's required and how much should a good closing attorney charge for an all cash closing?
Attorneys I have talked to in the area tend to charge $900 or so in closing fees. That said, for an all-cash transaction you can negotiate down to $750 or $500. don't forget to factor in all of the other possible fees, depending on who is paying for what in your contract:
- Title insurance
- Title search fee
- Seller document preparation
- Government recording charges
- Transfer taxes
- Electronic record fee
Ok, im gonna try to help here but not my field. Just FYI.
For cash 150k property, i would say typical attorney fees would be $600-$800. Add title insurance $400-$600.
Deep prep around $100-$200 but its paid by the seller (NC state law i think).
It should be very easy to just call few attorneys if you don't have one and just ask that. Those are pretty much flat fees so it will depend on the specific attorney.
The transfer taxes / stamps are 1$ for every $500 i think. So for 150k property, that would be $300.
Wire transfer fee $25.
I only done couple of cash transactions so this is the best i can provide just by looking at my settlement statements.
I always use the same attorney. He handles pretty much everything for me in regards to any legal stuff for my real estate.
Contact these guys. Just did an all cash closing. Used the Fayetteville office.
2521 Raeford Road
Fayetteville, NC 28305
2018 Eastwood Road, Suite 313
Wilmington, NC 28403