Legal Costs for Closing
Started by Mhillqt
almost 17 years ago
Posts: 405
Member since: Feb 2007
Discussion about
If you are selling a home and purchasing another...approx price $600k....what are the average legal costs(ie closing, etc) ?
Make sure you calculate the transfer taxes if you are selling, I believe they are about 1.8% of sales price. Good attorney's typically charge approximately $2000 flat rate. I think a good rule of tumb is to consider total closing costs of approximately 5% of your purchase price when buying a property.
i just saw one at slightly less than 3% on about 600000 including legal,transfer taxes, filing and bldging admin and move out fees
mh- would like to be specific but the answer is A LOT !!!!
of course there are lots of variables, ie size of mortgage, is it new (the purchase) and are there any other misc crazy charges in the purchase. Each place it so different i think it is impossible to get an answer here, other then to say get a detailed list on the buy side and more then likely 5% on the sell.
Good luck!