Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Who pays for closing costs? And, just how much are closing costs?

April 26, 2017closing costs pays

0

Posted

Who pays for closing costs? And, just how much are closing costs?

1 Answer

0

Posted

The party who pays for closing costs is negotiable in the contract, but it is assumed that the buyer will pay for them unless it is negotiated in the contract for the seller to pay or help with a portion of them. The total costs could vary, but a good estimate is 2.8% of the loan amount. Ask your lender to be sure!