Closing Costs

Today we're going to talk about closing costs.  You know I hear so much about "What exactly are closing costs?"  Well there's actually prepaids and closing costs and I have other videos to talk about the buckets of buying a house.  I want to kind of exlpore who pays what closing costs.  So right on the contract, in the middle, it talks about all the closing costs that are there.  So the seller and the buyer have closing costs.  Now here in the state of Florida, typically the seller pays their real estate commissions which usually make the selling closing costs a litle higher than the buyer's closing costs.  Now sometimes just to get the deal done, the seller will actually pay some of the buyers closing costs, which is fine if that's what the agreement is.  So for intance, if the house is listed at $300,000 and the buyer asks you to pay $5,000 of their closing costs, the offer is really only $295,000.  That's kind of the way that works.  If you do not know what the closing cost is, you need to contact someone right away.

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