How much for closing costs with no mortgage or loan?
I am planning to purchase a 200,000-250,000 home in the state of Michigan, outright with no mortgage or any loan.
Hypothetically, if I purchase a home for 200,000 what will be my total outlay of cash before the home is actually mine? Assuming I am not taking out any loan to finance this home.
Also I am not sure how much I am going to be able to negotiate for zero closing costs as I am already planning to put in an offer about 10% under the listed price.
Finally, why does the owner care if its an all cash offer or not? They get their money either way, just from me and not a finance company.