What You Should Know about Buyer’s Closing Costs
This article is specifically written for buyers in California where we use escrow companies, as opposed to attorneys, to complete the transaction. But lots of this information may still apply, and it’s worthwhile to consider the overall concept – thinking ahead about your CLOSING COSTS.
Folks who have bought before will have some idea of this already, but first time buyers are often surprised at the fees they have to pay, on top of the mortgage, during their purchase. A savvy agent can, and should, share information with you about the fees you can expect, some of which depend on the price of the home.
If you aren’t being told, or the topic has not yet come up, ASK. You don’t want any big surprises.
The other thing to keep in mind is that in the case of SHORT SALES and REOs (foreclosures) the fees may be higher because the bank will not approve paying some of the normal seller-paid fees.
READ MORE: Some Home Buying Costs You ay Not Think About (Part 2 of 3) – Escrow and Closing Costs
Visit my Real Estate Consumer Blog at Carlsbad Real Estate News for lots of information about the general area
All content copyright © 2010 Jeff Dowler “The California Relocation Dude”