Talk of The Villages Florida - View Single Post - Closing on a new house when paying cash
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Old 08-21-2008, 12:42 AM
Sidney Lanier Sidney Lanier is offline
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Default Re: Closing on a new house when paying cash

We bought a resale for cash. A paralegal at McLin & Burnsed in LSL handled all the details, and while we were present, we could see how easy a closing is when the buyers are not there. "Cash" meant our going to our bank, a branch of which is in TV, and getting a bank check; we were told that we would have had to pay for a wire transfer, while a bank check was free and acceptable. Insofar as closing costs are concerned, actually it's not a matter of negotiation; it's all spelled out what the buyers pay and what the sellers pay. As the buyers, our closing costs were nominal; as best as I recall, it was $25 which was half the fee for recording the deed, while the sellers were responsible for tax stamps, title search, title insurance, and so forth. Of course we buyers had to pay adjustments (for example, any portion of property taxes that the sellers had paid that would cover whatever portion of time we owned the house), but that would be the case with any real estate transaction, and again the paralegal handled all the details. We (buyers) and the sellers were given copies of the closing statement that spelled everything out, as well as all other legal paperwork. The fee to McLin & Burnsed was also relatively reasonable, best as I recall; the sellers were responsible for that fee so I don't remember the exact amount. Easiest closing imaginable!