When closing on a home, the closing cost should always fall between two to seven percent of the price of the entire home. Although this is the general guideline that both buyers and sellers refer to, you can always see if the figure is negotiable since it is ultimately the decision of the individual seller, whether that be the previous owner or a banking institution. Fees in your town or city can also alter this figure a bit.
- Amongst the costs any prospective home owner should calculate in estimating the actual cost of a house is the cost to close on a home.
- The costs to close on a home can range from between two percent to seven percent of the purchase price of the home.
- Some costs such as the closing costs can be negotiated before the final costs of the home is estimated and this one can do with a mortgagor.
“Home closing costs are costs paid to third parties, from your realtor to your real estate attorney, to help finalize the sale of your home.”