Closing Costs: More Expensive | Pre-Buyer Initial Consultation | Caprika Realty

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Closing Costs: More Expensive | Pre-Buyer Initial Consultation | Caprika Realty

Closing Costs: More Expensive | Pre-Buyer Initial Consultation | Caprika Realty


– Okay, so if you’re buying a larger home, something that’s a little more expensive, let’s say, north of $500,000, you’re still gonna have closing costs. The difference is the
seller may not be willing to help you pay for those closing costs. Okay, so what do I mean? Well, your closing costs
can be anything from your loan origination fee
to your abstract, survey, title insurance, different charges, doc prep stuff from both the
title company and lender, as well as all the transfer taxes for the state and the county. That’s gonna add up somewhere
around four percent. It could be as low as
three and a half percent, it could be as high as
four and a half percent. Just a good general rule of thumb, below 350, most buyers
are getting closing help. Unless there’s a bidding
war or it’s an investor. Three fifty to five hundred thousand it kinda becomes, eh,
probably you get some help, maybe not all three percent, but you probably get some. Seven hundred and plus,
most sellers expect you to have your own money. So, if you’re selling your home, and you’re gonna go buy another home, hopefully you have some
equity so you can do that. Most of the negotiation,
once you get up to the higher price points, is
gonna be all in the sales price not in closing help. Okay? And particularly, if you’re paying cash then it’s useless to
negotiate on closing help. It should basically just be
all on the purchase price side. Okay? So, I hope that makes sense. I just wanna make sure that you are aware that we do have this extra chunk of money that we’re gonna have to pay for. Again, we can talk through
the different strategies and gonna see what may make sense for you. But I just wanna make sure that everybody’s on the same page, so when we go to purchase a home and you get your numbers from your lender, you do expect that there
is this other piece. Okay, that’s it. Thank you for watching. I will see you in the next video. (upbeat music)

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