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joels sub2

drifter profile photo
  • Monday, February 24, 2003 @ 10:11 PM EST
  • 3 Comments

when joel was telling us about his sub2 deal, he mentioned that he only used $700 to get in the property

What is a break down of the costs to total the $700 - just curious on how this thing works a little

Comments(3)

  • joel
    joel24th February, 2003

    Basically it will cost me for a title search. Don't buy a home with out it!
    And money for the closing. A title search will run you about $225 and the closing around $300.

  • drifter
    drifter24th February, 2003

    thanks for the quick response - what about lawyer fees? or was it your lawyer that also did the title search?

    Thanks again
    scott

  • no photo
    jfmlv195024th February, 2003

    Depending upon where you live it can be a lot cheaper than that.

    Since I do my own title searches and closings, I am able to save a lot of money.

    For example on that sub to deal I did in December. I spent $10.00 for the seller's equity, the total down payment and $14.00 to record the deed.

    Best of luck

    John (LV)

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