How Much Are Seller Financing Closing Costs?
how much are seller financing closing costs? Property is $30,000 for this rental. I seem to have negociated well. 2003 full appraisal report listed on state tax assessors site is $42,000.
Anyway, this is my first seller financing deal and was told closing costs this way are a lot less than banks but what other costs are involved when buying direct from owner? My down is $1500. My Inspector is $325 (anyone know a lower priced inspector?) and i assume their will be recording and state filing fees. Anything else? How much should I expect?
I would suggest working on your credit before you start investing. You can dispute bad marks on your credit report. A great place to start is http://www.creditboards.com/forums/ , lots of great info and helpful people.
Joe,
Sounds like you need to focus on lease options or subject to deals till you straighten out your credit. Read everything you can online for free about these two areas, then buy a course. Most courses out there regurgitate the same info, so just pick one.
Good Luck,
Jim
Thanks for the advise but I also do not have any capitol to start investing with will that be a problem? I have a single wide mobile home that is in a mobile home park that I am buying and live in right now. It is a fairly newer model 2001 I have tried to refinance it but no one will touch it. any advise for this?
[addsig]
I recommend you start your real estate career by wholesaling. To learn more about wholesaling, go to the wholesaling forum on this website. I would read every topic I could. I spent two years studying real estate before I did any investing. I have earned 50K in my first six months of whole-saling.
Mark
See my reply with the topic in this forum titled "Note Purchasing" Let me know if I can help clear things up for you.
Nate
See my reply with the topic in this forum titled "Note Purchasing" Let me know if I can help clear things up for you.
Nate
Thanks a lot Nate. I read your other response and it was extremely helpful. Another question, Will the average Title company do all of the paperwork involved in creating a note, and then selling it at a simultaneous closing?