what is included in closing costs?
I read an earlier post that said they could be up to $20,000! So I'm wondering why...besides homeowners insurance, title insurance, and legal fees, what else is there?
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I read an earlier post that said they could be up to $20,000! So I'm wondering why...besides homeowners insurance, title insurance, and legal fees, what else is there?
YOU HAVE TO PREPAY YOUR REAL ESTATE TAXES, TITLE SEARCH, SOMETHING CALLED COUNTY TAX/STAMPS/ETC. UNDERWRITING FEES, MORE CRAP THAN YOU CAN IMAGINE. OUR CLOSING COSTS WERE ABOUT $14,000 AND WE BOUGHT A $325,000 HOUSE BUT WE ALSO PAID A POINT.
There can also be little things like reimbursement to the seller for the remaining oil in the tank, prepaid alarm monitor contracts stuff like that.
I assume the taxes you need to prepay changes in amount depending on what time of year you close, right?