Closing costs on seller finance

[Jagger Simon]

Hey everyone I have a seller financing deal that I’m getting ready to close on and it’s one of my very first deals ever, because there’s no agents credit checks and all stuff associated like that what goes into the closing costs on a deal like this? Is there an average estimated percentage on purchase price or how does this work? Any advice is appreciated thank you!

[Steve Vaughan]

Quote from @Jagger Simon:

Hey everyone I have a seller financing deal that I’m getting ready to close on and it’s one of my very first deals ever, because there’s no agents credit checks and all stuff associated like that what goes into the closing costs on a deal like this? Is there an average estimated percentage on purchase price or how does this work? Any advice is appreciated thank you!

 Title insurance, hazard insurance, prorated property taxes, closing/escrow fee, contract servicer start-up (around $165)  will usually run about 1.5% of PP of a normally priced property.  A couple grand on a small one under $50k.