Closing cost?

Re: Closing cost?

• MarieSD

  November 2011

  For buyers, I think it's generally 2-4% of the house's purchase price.

  For our home that we're closing on this week, it works out to a bit more than 3.5% of the purchase price.
  

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• Heidisean

  November 2011

  We are building our home and ours was about 3.5 or a little more when we closed.
  

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• mxolisi member

  

  November 2011

  Ours were 6.6% of the purchase price.

  It is really going to depend on where you are buying. Some places have very high taxes on the transfer of property titles and that's where the largest portion of our closing costs went. If we'd bought in another city it may have only been 4%. 

  "We tend to be patronizing about the poor in a very specific sense, which is that we tend to think,

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• TriDent0

  November 2011

  Depends on what you count for closing costs, I brought a check of 4.5% of my home's value to closing, and the sellers paid an additional 3%. Before closing, I'd paid an additional 2%.

  When I go to sell, I'm looking at 13%: 6% commission, 3% buyer closing costs, 4% transfer taxes. 

  So, for the whole operation, I'll be in for about 20% of the home's value.  This is insanely high, my area is expensive.  
  

   

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• ooodsie member

  November 2011

  Your lender can give you exact numbers.  You really shouldn't go out looking at houses before getting a GFE (good faith estimate) from your lender so that you know exactly how much you're looking at from both a down payment/ closing cost standpoint, and also a monthly payment standpoint.

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