Buyer Tip: Save for Closing Costs!

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Real Estate

In a sellers market and YES it is a sellers market once again, don’t forget to save for closing costs. Along with your down payment, you’ll also need to pay for closing costs because sellers are not considering offers that include seller subsidy. On average, closing costs are about 3–4% of the purchase price of your home. Your lender will give you a specific number so you know exactly what to bring on closing day. These fees pay for important steps in the home-buying process, including:

Appraisal (paid up front)
Home inspection (paid up front)
Credit report (paid at closing)
Attorney (paid at closing)
Homeowners insurance (paid at closing)

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