Real Estate Law
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Hello and thank you for the opportunity to assist you. My name is ***** ***** I'll be glad to help if I can. However, I am unclear about your question. Can you provide a little background information and perhaps clarify the question? Thank you.
The answer depends on what you want to buy. If you are paying with cash and want nothing more than the deed, then closing costs will be virtually nothing, except possibly a small fee for preparing the deed, depending on the law firm's policies. On the other hand, if you are taking out a mortgage, then you'll need to hire an escrow agency/title company, and that will require the preparation of various legal documents, title insurance, surveys, title searches, etc. It would be the same as buying any other house (i.e., the foreclosure would be irrelevant).
As for whether you're paying too much for the house, you should retain an appraiser. The simple way to get a good feel, however, is to look to see what other similar houses in the neighbor have been selling for.
Of course, you will also need to look at the condition of the house if at all possible. Even if houses are selling for much more than $135k in that neighborhood, that would be irrelevant if the house is trashed.
Does that answer your question? Please let me know if you need clarification, as I am happy to continue helping you until you are satisfied.
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