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Message
re: Closing Costs on a Home
Posted on 7/7/26 at 10:18 am to Tiger Prawn
Posted on 7/7/26 at 10:18 am to Tiger Prawn
This is solid advice.
0
Posted on 7/7/26 at 10:21 am to soccerfüt
quote:
Somewhere between $350.00 and $35,000.00.
I'd say 'bout $350...
Posted on 7/7/26 at 10:30 am to Double Oh
Title insurance if you choose to get it will like be somewhere between $2000-$2500
No idea what recording fees are in your area, generally for a deed recording its between $105-$135 in louisiana
No realtor fees to deal with, no lender fees, no lender title
Title company's fees will likely be between $650-$1000
Some things to consider. Tax pro-ration - you should be getting a pro-rated credit from seller for the amount of time he owned the home this year since you will be responsible for entirety of the tax bill (opposite if you are in orleans parish)
If in a flood zone, I would recommend assuming the existing flood policy from current owner as in most instances it will be cheaper than getting a new policy
If there is an HOA, you want to probably get any associated fees covered as part of closing and make the HOA aware prior to closing of pending sale, also make sure there are no outstanding balances from previous owner that they should be paying as part of closing (title company should handle this)
No idea what recording fees are in your area, generally for a deed recording its between $105-$135 in louisiana
No realtor fees to deal with, no lender fees, no lender title
Title company's fees will likely be between $650-$1000
Some things to consider. Tax pro-ration - you should be getting a pro-rated credit from seller for the amount of time he owned the home this year since you will be responsible for entirety of the tax bill (opposite if you are in orleans parish)
If in a flood zone, I would recommend assuming the existing flood policy from current owner as in most instances it will be cheaper than getting a new policy
If there is an HOA, you want to probably get any associated fees covered as part of closing and make the HOA aware prior to closing of pending sale, also make sure there are no outstanding balances from previous owner that they should be paying as part of closing (title company should handle this)
This post was edited on 7/7/26 at 10:37 am
Posted on 7/7/26 at 11:56 am to wesfau
quote:
I would not recommend this approach.
At all.
Yeah, I read all that too, and I am all for ensuring I don't get roasted dealing with realtors, car salesman, etc, but this is one of those things you want done right, and right will only cost you 1500 if neither of you have an agent.
There is some good advice here, OP, about getting a real estate attorney that's not expensive. I'd go that route.
Posted on 7/7/26 at 12:12 pm to Gee Grenouille
Baton Rouge area would be about 3100-3500
Posted on 7/7/26 at 12:17 pm to Double Oh
My guess would be ~$4-6 grand
Posted on 7/7/26 at 12:48 pm to Double Oh
I just went through something similar. For a 420K house it was about 14-15K
Posted on 7/7/26 at 5:41 pm to Boston911
quote:
quote:
No Owner is selling the house
I did the exact same thing, owner to owner, cash sale, used a real estate attorney for the paperwork and we paid him $500.
Yep got a quote for about $850 from my attorney for his closing costs to me. It's a special deal he's doing for me.
This post was edited on 7/7/26 at 5:45 pm
Posted on 7/7/26 at 5:43 pm to tigeraddict
quote:
title search and home inspection are a must
100% doing that
quote:
title fee to attorney making the transaction
Yep
quote:
can forego the appraisal since no loan, but completely up to you, the buyer
Seller did appraisal so wont do one myself
quote:
any reporting fees to clerk of court
Yep attorney will pay that and i will pay him back
Posted on 7/7/26 at 6:03 pm to CleverUserName
quote:
, find one of the people that will assuredly be there doing title work, and ask them how much they would charge you, in cash, to look for you.
And who is going to be accountable when this random unknown person screws up the title work?
Posted on 7/7/26 at 6:10 pm to Double Oh
Not sure where you are buying. The attorney's fees will fluctuate. Get an owners title policy though. Those run about $4 per thousand, so on a 400k purchase you are looking at $1600 plus whatever the attorney charges to do the title search and closing.
Edit to add: In my area you are looking at about $1,000 to do a cash closing plus the title insurance so $2600ish
Edit to add: In my area you are looking at about $1,000 to do a cash closing plus the title insurance so $2600ish
This post was edited on 7/7/26 at 6:13 pm
Posted on 7/7/26 at 6:17 pm to Canon951
quote:
Not sure where you are buying. The attorney's fees will fluctuate. Get an owners title policy though. Those run about $4 per thousand, so on a 400k purchase you are looking at $1600 plus whatever the attorney charges to do the title search and closing.
Edit to add: In my area you are looking at about $1,000 to do a cash closing plus the title insurance so $2600ish
He quoted me about $900-1000 on everything. Will have to mention the owners title policy to him. No clue what that is
Posted on 7/7/26 at 6:19 pm to Double Oh
That sounds about right. You can google the insurance but the standard I think is around $4 per thousand in MS, not sure about LA.
This post was edited on 7/7/26 at 6:23 pm
Posted on 7/7/26 at 6:39 pm to Boston911
Buyer didn’t get a title opinion for $500. Just a deed.
Posted on 7/7/26 at 6:45 pm to Double Oh
quote:
owners title policy to him. No clue what that is
It’s a policy that covers title defects discovered after the 3 year Rx period on lawyer malpractice.
Posted on 7/7/26 at 6:47 pm to EvrybodysAllAmerican
quote:
And who is going to be accountable when this random unknown person screws up the title work?
You mean the guy that actually does title work for a living?
I hate to bust the people that do that work... but it's not difficult. It's actually pretty simple.
Posted on 7/7/26 at 7:03 pm to Mung
quote:
It’s a policy that covers title defects discovered after the 3 year Rx period on lawyer malpractice.
So it covers if the lawyer messes up right?
Posted on 7/7/26 at 7:04 pm to Double Oh
You’re paying cash and are worried about closing cost?
Posted on 7/7/26 at 7:07 pm to Double Oh
What hapened to a firm hand shake and a mans word not be enough to get a house?
Posted on 7/7/26 at 7:21 pm to Double Oh
Following. When we bought our house after the collapse of the market we knew the owner and just did it through a lawyer. The money we saved by not going through a broker was split between us and the seller. Our biggest cost was the title insurance and all of the due diligence stuff. Even coming out of the collapse it was still much easier to do than I expected it to be.
We're in the process of deciding whether to renovate our house or do an "as-is" sale and buy/build a ranch style house. The kids are grown so I'd rather spend money downsizing/upgrading. We're using an inheritance from my wife's side of the family so I'm defering to what she wants. It'll be all cash either way.
We're in the process of deciding whether to renovate our house or do an "as-is" sale and buy/build a ranch style house. The kids are grown so I'd rather spend money downsizing/upgrading. We're using an inheritance from my wife's side of the family so I'm defering to what she wants. It'll be all cash either way.
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