What closing costs and time frame are typical for most transactions?
Closing costs typically consist of about 2.5% of the purchase price for non ocean-front property and approximately 7.5% for ocean-front. These fees are government regulated and are charged by the local, state and federal agencies involved in real estate transactions. Typical closing takes a couple of weeks, while ocean-front properties require between 45-60 days to record title. The buyer only needs to be present for a day or two, however, to sign closing documents.
