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Buying Subject To - Purchase Costs/Closing Costs

nateham6 profile photo
  • Wednesday, March 22, 2006 @ 08:26 AM EST
  • 4 Comments

Can someone give me an idea of some of the purchase costs associated with buying a property subject to?



Here is what I can think of:



1. Making up the arrearages/back payments

2. Recording fees for the deed

3. Any others???



I have a few leads and was wondering how much upfront money I need.



Thanks,



Nate


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Comments(4)

  • no photo
    nateham621st March, 2006

    Thanks for your quick reply. Thats helpful.

    Can anyone think of any other costs?

    Thanks,

    Nate
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  • BBagnall
    BBagnall22nd March, 2006

    6. Possible repairs.

    I think that might be it.

  • no photo
    bgrossnickle22nd March, 2006

    Fees for the notary to stamp the deed, POA, Affadavit of no liens.

    I always get title insurance for anything where I am spending over 10k or if the title is screwy because of probate or other issues. It has not happened to me yet, but another investor that does more deals than I has had several times where the preliminary title search comes back clean and then when they are closing with a buyer there is an oops on the title.

  • no photo
    nateham622nd March, 2006

    Thanks everyone. I really appreciate the help.

    Nate
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