How much are closing costs?

Mrriso
Home Buyer
Nipomo, CA

I am buying the house I have been renting for the last 10 years. The house was new when I moved in. The owner owns it outright and will be carrying the contract. We have agreed to $320,000 for the house on a 30 yr fixed rate mortgage @ 5.5%. I will be putting $10,000 in escrow. The closing costs will be deducted from this and the balance will be the down payment. The seller has agreed to pay 1/2 of the closing costs. There will be no appraisal or home inspection. I have lived in this house since it was brand new and feel confident I know the house well enough to buy it as-is. My question is, how much will my closing costs be?

Answers (2)
Johnny Costa
Agent
Pismo Beach, CA

Congratulations on buying the home.

Contact the escrow company that is handling your transaction and ask them to provide you with a "buyer's net sheet." They will need the information that you provided here as well as other information that they will ask you.

Hope this helps and good luck.

Tue Jul 7 2009, 17:24
Rebecca Larsen
Agent
93444
FIRST ANSWER

So much depends on the type of loan, whether or not you are paying points to reduce interest rates, reports that you might request, etc. I strongly recommend speaking with a good loan officer that can prequalify you, tell you about the many loan options that are available to you, and provide you with an estimate of closing costs.

How lucky you are to be moving to the Central Coast! I am a native of the San Luis Obispo area. Being a Central Coast native gives me a true appreciation of all that the local lifestyle represents. I bring this enthusiasm to everything I do.

This is the busiest season for the real estate market - people come as tourist and decide that they want to have a second home, retire or just move here permanently.

A home here is a wise investment as our market tends to be more stable than others nationwide. We lack the dependency on large industry or manufacturing so the population and resource remain consistent.

I am a Realtor and would be delighted to assist you. My reputation and future success depends on providing my clients with exceptional service and professionalism. When looking for a partner to find the ideal home or to sell your property, remember my name and call me, knowing that I am here to serve.

Rebecca Larsen
Seawave Real Estate, Inc.
Pismo Beach, CA
(805) 268-3551

Web Reference: http://www.rebeccasccl.com

Tue Jun 30 2009, 17:53

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