You Can’t Avoid Closing Costs—But You Can Reduce Them

Posted by Bonnie Martin Designated Broker on Monday, March 2nd, 2015 at 7:30am.

bank__olegdoroshin_450realtor.com - Just when we think we have the necessary funds to make even the minimum 3% down payment, we’re slapped with another round of expenses: closing costs. 

Closing costs typically amount to 3% to 6% of the purchase price. Why the broad range?Taxes. Buying a house means paying taxes and sometimes transfer fees upfront, at the closing. While there are settlement costs that go to your attorney, title insurance company, and lender, the biggest beneficiary is the government—city, county, and state.

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Photo:  ©[Oleg Doroshin]/123RF.COM

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