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02-04-2006, 10:59 AM
| | Junior Member | | Join Date: Jan 2006
Posts: 2
| | | closing costs in philly pa
what is a break down of closing costs in philly pa. i am in the process of buying a home and i think to get me to use an "in house mortgager for convenience" i was told i have to pay 2% of the sale price for transfer tax, and 1% for title insurance, but everyone else i know that has bought a house has never heard of these charges, although none of them live in the state of pa. i know that everything is state to state, but i just dont want to get overcharged buy these people if they are lying to me. |
02-04-2006, 12:20 PM
| | Senior Member | | Join Date: Aug 2005 Location: St. Odo of Cluny Parish
Posts: 27,494
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Originally Posted by jbm what is a break down of closing costs in philly pa. i am in the process of buying a home and i think to get me to use an "in house mortgager for convenience" i was told i have to pay 2% of the sale price for transfer tax, and 1% for title insurance, but everyone else i know that has bought a house has never heard of these charges, although none of them live in the state of pa. i know that everything is state to state, but i just dont want to get overcharged buy these people if they are lying to me. | These are normal costs. You should have all your statements explained on your HUD statement (required by law).
If you do not like these charges, then shop around.
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02-04-2006, 01:18 PM
| | Senior Member | | Join Date: Aug 2005
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Originally Posted by jbm i was told i have to pay 2% of the sale price for transfer tax, and 1% for title insurance, but everyone else i know that has bought a house has never heard of these charges, although none of them live in the state of pa. | These ARE indeed fees charged in your state pf PA. They have also bitten many an unsuspecting buyer in the tush when it comes time to purchase. | |
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