Closing costs is one of the biggest concerns for buyers and sellers during any real estate transaction. During home buying process most people think that the down payment is going to be enough however you will have additional closing costs to your down payment. There are many professionals will work for you during your real estate transaction who may not even see or talk with you such as title assistant, lender’s staff, escrow agent, appraisers and more. Most of the time closing costs cover all these helpful professionals labor, licenses, education needs, state mandatory filing system and more. You may still have a part that you can work on to reduce closing costs.

Shopping around for title insurance fees may help you to save and talking with different Title Company helps you to see the different options easily for your closing costs.

Remember to ask the seller if they can contribute or pay all of your closing costs at the closing. It is getting harder to find this kind of real estate deals but sometimes you can make this work. You can offer little bit more than the seller was asking and get contribution at the closing towards your closing costs. That way, you are essentially financing the closing costs over 30 years or whatever loan term you have. Only one thing you need to be careful this kind of real estate deals that you may have problems with the appraisal if purchase price is at or near top market value.    Read the rest of this entry »