is this really the goverment playing with coumpters`` can;nt you guys are too smart right?

Powered by

I am interested in a 500 sq feet condo in nj. i found out the current owner has not pay her property tax bill since dec 2008 (accumulated about $3000 with interest in back property taxes). also for a small size condo like this, should i even get a home inspection, which might cost about $300 to 400? the current owner told me there is no need for a home inspection because the structure is sound for the entire building, which has 9 units of condo. if anyone body can give me some insight, thanks

The property owner is not responsible for the taxes, the property is. If you buy the condo, do it through an escrow that calls for payment of all back taxes so you can get clear title. If you are not paying cash, the lender will demand this. A lender might also demand a home inspection. If the current owner recommends not having one, that means you should have one.

Powered by

Here is a list of "fees" on the good faith estimate from wachovia interest rate is 5.500% (6.191% apr) 0801 loan origination fee: $1446.53 0803 appraisal fee $300.00 0804 credit report fee $15 0812 flood certification $15 0818 application fee $60 0901 interm interest $66.54 0902 fha pmi $2531.43 1003 city property tax $978 (3 payments) 1101 settlement fee $300 1103 title examination $650 1108 title insurance $705 1201 recording fee $120 (includes deed/mortgage) 1301 survey $125 1311 free form from mpos $500 total settlement charges $7812.50 the title company sent me a letter with the following (ill type in caps to distinguish the difference) insurance premium: reissue owner's policy: $588 loan policy: $25 charges: examination of title: $90.00 municipal lein search $45.00 patriot name search vs buyer: $10 upper court vs borrower: $15 transaction mgmt platform: $25 corporate status vs seller $35 total: $833 settlement fee (not included in total) insured closing letter: $25.00 flood certification: $20.00 tidelands search: $75.00 drafting of metes: $50.00 endorsements (25 per endorsement) environmental endorsement lender's survey alta 9-06 restrictions alta 4.1-06 condo endorsement alta 6-06 variable rate alta 22 location alta 5.1-06 pud survey --------------------------- is the gfa estimate accurate? some items are listed in the gfa and then relisted in the estimate from the title company (do i need to pay twice?) if it's not listed, do i need to pay those fees? if there are items not listed, please let me know so i can ask my lender (wachovia) if i am responsible for them. thanks thanks you for your help

I emailed you because the title fees look high to me so I'm verifying with a national title company but I need to know what county you're in. The big thing to me is that the numbers did not make sense on your first post so I am going to build a GFE for you to show how your earnest money deposit affects how much you have to bring to closing. The other thing I question is if they are using seller concessions to offset the closing costs. Edit: Ok the title fees are a little high but not by much. The GFE is just an initial estimate so the fees may go up. For example the title company sent you a separate estimate for their fees. You should compare it to the GFE and realize that your fees will be whatever the title company sent you. Everything else looks normal except there is no charge listed for underwriting or processing but other than that it all looks good.