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Off the top of your head, what would be your best guess on the range of closing costs on a home sale of >$500k? I know there are a zillion factors that can go into it, but just in passing what would you guess it would be "no less than" or between X and X? Curious to see what would and wouldnt be considered "shocking"...Thanks!
Off the top of your head, what would be your best guess on the range of closing costs on a home sale of >$500k? I know there are a zillion factors that can go into it, but just in passing what would you guess it would be "no less than" or between X and X? Curious to see what would and wouldnt be considered "shocking"...Thanks!
Very good question and smart of you tho be thinking about this ahead of time. This last house I bought myself I gave $8K in earnest money and the homeowner gave me $5K back at closing (because the new roof that they agent claimed was new was only 1/4 new) to pay to finish the roof. That was $13K I had total in the closing cost pit. On a $280K house I got only $1K back at closing, the rest went to closing costs.
Wow, so let me get this right - you paid $12k total in closing on a $280k house? Those were only the closing costs, is that right? Thank you for your response :-)
Approx. $12k closing costs for a $500k home with 5% down paying a 1% origination fee, 0 points, conventional 30yr. Property taxes were assumed to be 1% of home price.
Great, thank you guys. So would it be reasonable to say that a real estate agent should have a bit of an idea on what closing costs are going to amount to, or be "no less than", or not be shocked by?
Wow, so let me get this right - you paid $12k total in closing on a $280k house? Those were only the closing costs, is that right? Thank you for your response :-)
Oh ya, it was like magic how they made the money disappear! My realtor confirmed that it was average for closing cost but I think you will find ... I got porked. Let's see what others have paid.
Oh ya, it was like magic how they made the money disappear! My realtor confirmed that it was average for closing cost but I think you will find ... I got porked. Let's see what others have paid.
HA! I am not laughing at you getting raked over in closing costs, but the way you put it made me laugh. I have no experience, but my first reaction was it seemed a bit high. Again, this coming from a very green buyer...:-)
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My realtor confirmed that it was average for closing cost but I think you will find ... I got porked. Let's see what others have paid.
