how much are closing costs: Closing Costs: What Can the Seller Pay on Behalf of the Buyer?
- 12/20/08 04:36 AM
We are in a buyer's market. Nine out of ten transactions in our area will include the seller paying toward the buyer's closing costs. As a first-time home buyer, you may not understand how much closing costs run, or what they include.
To begin, closing costs are typically 3% of the total sales price. This does not include any down payment required by the lender. If you are purchasing a home for $200,000, you can expect your closing costs to be approximately $6,000.
Closing costs include attorney fees, title examination, recording the deed, title insurance, mortage interest for the current month, taxes, home owners … (4 comments)
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We are in a buyer's market. Nine out of ten transactions in our area will include the seller paying toward the buyer's closing costs. As a first-time home buyer, you may not understand how much closing costs run, or what they include.
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