Closing costs help facilitate the sale of a home and both buyers and sellers
pitch in. Some closing costs can be paid before the home is officially sold
and others are paid at the end.
However, closing costs aren’t set into stone and they can be negotiable. You
can ask your real estate agent or lender with help in estimating your actual
closing costs. Look over everything to make sure all the numbers are right
and then you plan accordingly in how you’re going to lower them.
Some banks offer assistance to buyers when they use them to help pay for
the purchase. It’s a way for a bank to reward loyal customers.
Closing at the End of the Month
Schedule your closing at the end of the month so you don’t have to pay the
per diem interest for so many days.
Get Multiple Quotes
Get estimates from different lenders because you’re looking for the best
package of closing costs and interest rates. There might be something better
Sometimes title insurance and settlement are bundled together. You may be
able to find a title and settlement company that is less expensive.
Negotiate With the Seller
You can try to negotiate with the seller in paying for some of your closing
costs. Buyers can ask for credit or to cover lender expenses during the offer
and negotiation process.