If i pay a $400,000 house in cash, what do i still have to pay?
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I'm buying my first house soon and it will cost me $400,000 (i'll be paying in cash.) I won't have any financing monthly payments but i know i still have to pay for some other stuff... What do i still have to pay? Could you give a rough estimate guess on how much i will have to pay?? Also... If i pay in cash for a house.. will i have to pay for PMI?
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Answer:
no on PMI Recording taxes, deed prep and recording fees, title search,m probably a title policy. county recording fees
Mike at Yahoo! Answers Visit the source
Other answers
You will still be paying property taxes & homeowners insurance.No way of know the exact amounts.Every city & location is different.
No, you will not have to pay for PMI. $400k is a lot of cash to just have on hand. That being said, you would still need to pay for any closing costs, taxes or fees for where you live. I don't know the exact amount, since each city, county, and state will change something else, but you can run an online search for what the taxes and fees in your area are.
Closing costs. real estate taxes. Get a title search company to make sure the title is free of liens (might be part of the closing costs). House inspection before closing (for your safety). Moving costs. Cleaning costs for cleaning up an apartment or rental unit you are leaving. Any fees for breaking a lease at a previous apartment or rental unit. A lawyer to oversee the closing papers are proper and correct (to protect yourself). PMI is mortgage insurance. You don't have a mortgage, so you won't need mortgage insurance.
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