Re: Buying property
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Hi Matt,
A few questions.
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closing costs wrapped into it
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Closing costs is?
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add $4,000 in tidy-ups including washer/dryers, paint, etc. which you will get as cash back to a contractor
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"you will get as cash back to a contractor"?
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I realize I'm not Matt and he did a great job with his original reply. Closing costs in the US typically include title insurance (who pays for this depends on the state), potentially the buyer's pro-rata share of the real estate taxes (depends on time of year and whether taxes had already been paid), property insurance, state specific fees (some states have recording taxes, some have doc stamps, etc.), appraisal costs, potentially a survey, plus other miscellanous charges. If you're dealing with a lender, there will undoubtedly be other fees included, such as application/underwriting fees, credit check fees, discount points, courier fees, etc.
Hope I understood your question correctly and answered.
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