The following are estimates I routinely use for independent third-party closings. I use a sliding scale with the base cost determined for a sales price up to $5,000. For each additional $1,000 in sales price- I'll add an additional $10. to cover stamps. These estimates do not include any credit card processing fees, broker fees, courier fees, resort estoppel fees, or resort transfer fees which can add significantly to a Buyer or Seller realized cost.
The entire closing process should take approximately ten to twelve weeks. A deed only closing base price is approximately $395. and a full closing with a title insurance policy is approximately $795.
Also, some closing agents will now require either a title search or lot book report to be purchased even if you are not buying a title policy. This policy varies by closing agent and can increase the cost of a deed only closing by approximately $125.
There are also a few other issues buyers should always be aware of when purchasing a timeshare located in California.
Taxes are always billed separately. You will want to ensure your closing agent checks with the comptrollers office to discover if taxes are unpaid. If the prior transfer was not done correctly (a problem that is rampant these days with unqualified closing agents often working eBay transactions)- the current owner may not even be aware that several years of taxes are due. I have even seen a transaction that was in the process of closing, when the property was sold at auction for past due taxes.
Finally, if you do not know what the term community property state means- stop and research how the title to real estate is held in the state of California. This is another area of concern for consumers and is often a common mistake for unqualified closing agents.
If you would like a few referrals, contact me and I'll be happy to provide you with several closing agents you can call to request a specific quote for your purchase.
The entire closing process should take approximately ten to twelve weeks. A deed only closing base price is approximately $395. and a full closing with a title insurance policy is approximately $795.
Also, some closing agents will now require either a title search or lot book report to be purchased even if you are not buying a title policy. This policy varies by closing agent and can increase the cost of a deed only closing by approximately $125.
There are also a few other issues buyers should always be aware of when purchasing a timeshare located in California.
Taxes are always billed separately. You will want to ensure your closing agent checks with the comptrollers office to discover if taxes are unpaid. If the prior transfer was not done correctly (a problem that is rampant these days with unqualified closing agents often working eBay transactions)- the current owner may not even be aware that several years of taxes are due. I have even seen a transaction that was in the process of closing, when the property was sold at auction for past due taxes.
Finally, if you do not know what the term community property state means- stop and research how the title to real estate is held in the state of California. This is another area of concern for consumers and is often a common mistake for unqualified closing agents.
If you would like a few referrals, contact me and I'll be happy to provide you with several closing agents you can call to request a specific quote for your purchase.
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