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1. What would be the costs associated with this purchase? (The agent already told me the seller would be paying for his fees)
A. Lawyer
B. Home inspection
c. Any other fees?
Also, how much can I ask off the listing price since i’m a cash buyer (lets say the home is listed for 100k and has been on the market 1/2 yr)
Really need to know so I know how much to set aside and so that I wont get cheated out of money
Thanks,
really appreciate it

3 Thoughts on Buying a home outright (in NJ if that matters)?
  1. Reply
    falsi fiable
    February 23, 2013 at 1:16 am

    Buying a home outright:

    100% of the purchase price.
    Your share of closing costs…completely negotiable with the seller.
    You don’t need a lawyer, unless you like paying money for nothing.

    The seller won’t give you any discount for cash because they aren’t they ones who would loan you money for a mortgage. They don’t care how you pay.

    Read “Home Buying for Dummies” or any self-help book on the subject.

  2. Reply
    Equality
    February 23, 2013 at 1:38 am

    You the buyer pay for lawyer, title search, appraisal, survey and in some towns a Certificate of Occupancy, registration of the deed fees, prorated property taxes and homeowner’s insurance.

  3. Reply
    Use Your Noodle
    February 23, 2013 at 2:06 am

    Instead of asking here, you need your OWN real estate agent to advise you of what a fair offer would be and to look out for your interests. They would take the place of hiring a lawyer to do the negotiations and making sure your bases are covered. They would also know what fees or other things you would need to close on this house.

    Whatever you do, do NOT use the sellers agent as YOUR agent! They aren’t looking out for your interest, they are there to get the seller the best deal possible!

    Also, your own real estate agent will not cost you a dime! Might piss off the sellers agent though, since it sounds like they are hoping you don’t call in your own agent so they can keep the entire commission instead of having to split it with another agent!

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