Whats negotiable with closing costs?
Recurring costs, such as property taxes and homeowner’s insurance, are not open to negotiation. One-time fees, such as the lender’s attorney fees ($300 to $500), document-preparation fees ($150 to $300), the appraisal ($200 to $300) and the title search ($300 to $600), are on the table. If you’re buying and you can’t get the lender to budget, ask the seller to pitch in. Shifting certain costs, such as the appraisal, underwriting fees and title search and insurance to the seller is a growing trend and case save you as much as $8,000. If you are refinancing, you only have the lender to pressure. Third-party jobs, such as credit reports and appraisals, are often marked up by the lender, so you may be able to negotiate lower fees. Make sure you ask, because you are no worse off even if they say no.
