Profile picture for carolynne1959

I'm offering to pay our buyers closing costs...

Can anyone give me an idea of what the average costs are?
  • July 07 2009 - Moreauville
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Answers (5)

I would consider an "up to" amount....put a cap on it - with rate buydowns and such it could easily get out of control.
  • July 09 2009
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Around here, closing costs on a 150,000 house would be around 2--3,000. The seller may elect to build the closing costs into the price, providing the buyer agrees. Just ask your agent to show you how this is done.
  • July 08 2009
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Profile picture for carolynne1959
Thanks for your responses.  Now I have an idea what I will be responsible to pay.
I am getting my full asking price in return for paying the CC.  Signing purchase agreement today and hope all goes well from there!
Thanks again! 
  • July 08 2009
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Profile picture for kittenonkeys
Closing costs depend upon the price of the house and the fees the lender charges as well as closing agent's fees.  Loan origination fees are generally about 1% of the sales price, and underwriting fees may be 1/2%.  Then there are miscellaneous fees, recording fees, etc.  I just wrote an offer for a $200,000 house, and the closing costs for this one are approximately $8,500.

I'm told Louisiana is one of the highest closing costs states in the nation.  If I were you, I would set a limit on the amount I would be willing to pay and stipulate your willingness to pay these costs is based upon receiving a full-price or near full-price offer.
  • July 07 2009
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Profile picture for tdefazio
About 3% of the purchase price.
  • July 07 2009
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