Closing Cost, Seller’s Net Sheet, Buyers Cost Estimate – different names, same idea!
When it comes to selling or buying a house there are fees and expenses attached to the process – for the seller and the buyer.
What are the seller’s net proceeds and how much cash does the buyer need in addition to their down payment.
Closing costs and additional cost during the closing can run between 2-5% of the total purchase price. That is not a small number and it is important to understand how these expenses can break down, what they are, how they can differ, why they fluctuate and on what side of the deal they end up.
I found this little chart on the right very helpful to get a quick overview. I hope it is helpful to you too.
Always ask your real estate agent for a closing cost estimate as soon as possible so you get an idea on how these fees are aggregated in your area. Having an overview of closing cost will put you in a better position to negotiate your purchase contract. Based on the details of every accepted offer the cost that end up on your side might change.
Feel free to call me for any question, always happy to chat!