Housing Closing Costs: Homes For Sale: Homes For Rent

As a Realtor, I am asked about closing costs. I recommend consulting those who are directly involved in these costs. Please feel free to contact me for contacts in the industry. However, I provide some information below for general discussion.

According to Bankrate.com, the average closing cost in 2011 on a $200,000 home was $4,070; this was an 8.8% over 2010.

Of course, you can get a home loan that do not have closing costs; however, this is usually in exchange for a higher interest rate. Generally speaking, this option makes less sense for those NOT planning on staying in the home for a long time.

Another common question is how can I reduce these costs. Well, one way beyond taking a higher rate (as discussed above), is to buy an expensive home. Lenders tend to waive fees for an $800,000 purchase, more so than a $200,000 purchase.

Also, if you are getting a loan from an institution you have an existing relationship with can help.

Another avenue might be the seller themselves. The weak housing market might have the seller cover the closing costs as part of the sale-- it is still a "buyer's market."

As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.

For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at www.langrealty.com/agents/michael-friedman

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty