Frequent Contributor
steelfan
Posts: 473
Registered: ‎03-06-2007
Re: Preparing to buy

llecs wrote:
Thanks guys. Those costs are higher than I thought they were going to be, by double (in my mind anyway). Maybe with the economy and perhaps with a desperation to sell, we could hammer out a good deal. It appears I still nead to read and do some homework.




 

You are allowed to ask for up to 6% in closing costs from the seller but alot of banks/lenders put a max of 3%.  A good chunk of your closing costs comes from the fact you are required to pay a years worth of property/school taxes ahead of time so theres $3,000-6,000 right there