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Updated over 3 years ago on . Most recent reply
selling and reviewing escrow fees
I am selling a condo in San Diego and will be going over the estimated escrow statement this afternoon.
I know there are bunch of line items and I will have to familiarize myself with the closing costs.
Asking for some insights on what to question/get lower on the escrow fees.
Also, looking at the capital gains, the choices are 12.3% of the net gain or 3.3% of the purchase price. I do not plan to buy another property.
I bought it for $379k and put $100k into it so the basis is $479.
12.3% of net gain (net gain is $266,000) = $32,718
I'm selling it for $745k.
3.3% of selling price 745k=$24,585
So it looks like I should go with 3.3% of 745k=$24,585 for capital gains.