Closing costs are often overlooked... and can be expensive! Have you figured in that 2%-6% of the purchase price in other costs due at closing?

Consider these 4 tips to minimize closing costs

1) Shop around. Lenders charge fees, but some charge more than others. The same goes for title and settlement services. Compare companies and choose one that fits your needs - and cash flow - best. 

2) Negotiate. Sometimes buyers' closing costs can be negotiated to be paid in full or part by the seller of the property. That's something a knowledgeable agent can help with - put that compromising power to work! 

3) Research. Some lenders offer a "No closing costs" mortgage that can help you get into a home without paying wads of cash up front. These costs are usually wrapped into the loan balance. 

4) Double-check. When your lender provides the loan estimate form, locate the "Services You Can Shop For" section. These fees include a title search, survey, and other inspections, and sometimes shopping around can save you some money. 

Call Paul at 680-3333 today with questions or concerns about a typical real estate transaction and to discover your new home!

 

Sources: https://www.nerdwallet.com/blog/mortgages/strategies-to-keep-your-closing-costs-low/

https://fitsmallbusiness.com/closing-costs/