Closing Costs & Finding a Title Company

[Christopher Lucas]

Hi Everyone,

When putting the numbers together for a buyer, do I just put 5% of the purchase price in the closing costs as a "worst case scenario" kind of thing or is there a way to accurately calculate that?

Also, as I would find my buyer first before finding the deal and working the numbers, do I do the same for a title company or can do I look for one after the initial and assignment contracts are signed?

[Roland Paicely]

Check with your local title company, attorney or whoever does the closings in your area. They should be able to give you a fairly accurate cost. If that doesn't work for you then you should touch base with other investors in your area or your local REIA.

I don't completely understand your second question, sorry.