What makes up the closing costs?

[Bubbleboy]

I am looking at purchasing a contract via resale and know that the buyer typically pays the closing costs. I see that closing costs are routinely quoted at roughly $400 on this and other boards. I know that all things are negotiable and would like to know what exactly makes up the closing costs (title insurance, transfer fee, etc...) so that I know what I am talking about if I choose to negotiate these items?

Thanks,
Tony

 

[Meliechick]

Excellent question. I was wondering the same thing myself.

 

[mrgoodwrench]

I'm not sure either, but I found a company in Vero Beach that does timeshare closings for $250. I called and was told they do DVC closings and that it would be $250. I'm not sure I'm allowed to post the name. If I am, someone let me know, if not pm me for the name.

 

[dizplanner]

I closed earlier this month. It cost $450. This was on 150 points.

115.00 Settlement or closing fee
50.00 Abstract or title search
105.47 Document preparation
63.83 Title insurance
18.50 Recording fees: To Orange County Comptroller
77.70 State tax/stamps: Deed To Orange County Comptroller
19.50 Record Waiver of ROFR: To Orange Country Comptroller
-------
450.00

For the place that charges $250, find out if that includes the fees to Orange County and if it includes title search and insurance.