BG Realtors : Halp!

[Kaludneisucks]

So long story, im trying to get an idea of what any of you may have paid in closing costs for any homes you may have bought, is it usually percentage based or lump summy, does it matter the agent you go thru etc. Buying a house in SF bay area, ~200k, closing costs are around 9k, just wondering if that seems norm or high or what..

[Jak]

I'm actually closing on a house tomorrow for myself. My closing costs, which include assessment fees, paperwork, taxes, applications, insurance for first year, etc. ended up being close to 5,000 dollars on a $72,000 loan.

Assessment: $495
Insurance: $495
RD Loan Fee: $1,000~
Taxes/Filings/Applications, Etc.: $2,500~ (this includes a shit load of small stuff)

Although roughly $1,000 of that was actually for the loan itself. I'm getting a 100% financed loan through Rural Development Loans (for cities with under 40,000 people or something).

Really though I actually paid $0.00 for closing because the seller had to contribute up to $4,000 to closing and my loan had an extra $1,000 dollars added to it since I'm buying my house for well under the appraised value.

So 9,000-10,000 bucks doesn't seem too bad to me considering you're paying like 2.5x more than me on a home.

[Yeargdribble]

Closing on a house next week, my father-in-law is a realtor and my mother is a records researcher who knows her shit in this area. That definitely sounds reasonable. I'd expect you to be on the high side of 5-10k, so 9k sound right for the full closing. Perhaps you could've gotten lower if you'd haggled with the seller to cover some of the closing, but I wouldn't be worried about getting shafted at that price.