Asked by Alvy, Wantagh, NY • Mon Oct 15, 2012
We are hunting for a house and looking at several properties, this is what was told to me by our agent and I just wanted a public and professional opinion if it seemed accurate. If we get an accepted offer of $400k on a home and wish to put down 20% we should also add onto that an additional 6% to cover Realtor and closing costs (I know this can vary but 6% is a guesstimate) This means I would need on hand ($80k (20% down) $24k (6% closing) ) $104k total. Does this seem correct?
What other fees can I expect? $12k seems like a lot of money for the Realtor, especially since I found the house, he's a nice guy but it's a lot of money. How does this get negotiated?
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