Hawaii Closing Costs – not in the top 10!
Everyone always asks about closings costs- who pays what and how much. In Hawaii, the escrow fee is split 50 / 50 between seller and buyer with the title insurance cost shared on a 60 / 40 basis between the same. If you want to get a rough idea of closing costs for any given purchase or sale, go to www.tghawaii.com and move your cursor over Real Estate Tools. From that point you can choose either Closing Cost Estimator or Fee Schedule. If you select Closing Cost Estimator, you must first choose which type of property, then select fee simple, next is buyer and seller split costs then put in yes or no for the question about the buyer getting a loan. It then brings up a page where you enter in the sale price at the bottom (don’t worry about all the other stuff.) With just the purchase price entered in, you can then click on the tab at the top right that says Estimated Closing Costs to get the basic fees for a transaction at that price point. You can also choose the fee schedule for a general estimate of cost.
Despite how expensive Hawaii is in other areas, when it comes to closing costs we are not even in the top 10! Here are the 10 Most Expensive States for Closing Costs according to an article in Realtor Magazine’s online daily real estate news for August 15th:
“A slowing housing market isn’t stopping closing costs from rising, according to a study by Bankrate.com.
The 2007 average closing cost of $2,736 has gone up to an average of $3,118 in 2008, a 14 percent increase. New York City at $4,016 is the most expensive place to close. North Carolina is the least expensive area with an average fee of $2,650.
Here are the top 10 most expensive states to pay closing costs.
New York: $4,016
Texas: $3,975
Florida: $3,683
Oklahoma: $3,558
New Mexico: $3,465
New Jersey: $3,432
Pennsylvania: $3,411
Alaska: $3,409
Colorado: $3,358
California: $3,321″
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Now I understand why my CA clients never comment on the closing costs. It probably seems like a bargain!
Aloha Elaine
Here’s the site of one of my campgrounds- Devil’s Tower, WY. If you watched Close Encounters of the Third Kind then you saw Devil’s Tower. It is also famous for being the first national monument and was designated as such by President Theodore Roosevelt in 1906. Devils Tower rises 1267 feet above the Belle Fourche River. Once hidden, erosion has revealed Devils Tower. This 1347 acre park is covered with pine forests, woodlands, and grasslands. Deer, prairie dogs, and other wildlife are seen.
Elaine Schaefer (R, GRI, ABR)
Broker in Charge – Princeville Resort Office
Graduate, Realtor’s Institute
Accredited Buyer’s Representative
Top Producer 100% Club
RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email:soldonkauai@yahoo.com
website: www.kauairealestatenow.com
blog: www.blogs.alohaliving.com/princeville-condo-sales
……you can have your own piece of paradise
ask me how!
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