Question on closing costs...... - Posted by Rob

Real Estate Investing
1

Posted by Tim Fierro (Tacoma, WA) on November 08, 2002 at 18:15:50:

Transfer tax will be the big hit for a double close with a $410k price tag. Here it would be $7k for each transfer for $14k taken out.

2

Question on closing costs… - Posted by Rob

Posted by Rob on November 08, 2002 at 11:22:16:

Hi, if I took an Option in a Sandwich L/O at 380K and marked it up to my Tenant-Buyer to 410K, I would have 30K locked in back-end profit…

Let’s say the tenant-buyer excercises their option and we do to double-closing.

APPROXIMATELY, what would be my closing costs at both ends of the closing and what would I wind up with out of that 30K?

Thanks from a newbie !!