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What's in the closing costs?

I bought a place before and feel like I paid a bunch of money for closing costs, but didn't know what it was for. I'm hoping to sell and buy a different place this spring, but I want to understand what I need to pay and make sure I have enough money for it.
Asked By Henry . | Bentonville, AR | 45 views | Finance Legal Info | 3 weeks ago
Answers (1)
Rylie Schroeder

Coldwell Banker


Hi Henry! Both buyers and sellers have closings costs. When you purchase a home, your closing costs are usually between 3-5% of the purchase price and consist of lender fees (application fee, appraisal fee, origination fees), escrow fees, HOA dues, insurance, etc. As a seller, you are usually responsible for the Title Policy (.5-1% of the purchase price), plus the agent commissions. I hope this helps!

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