https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Fri, 17 Apr 2026 09:13:43 +0000 https://boards.hellobee.com/topic/closing-cost#post-2521409 Mon, 11 Apr 2016 12:53:08 +0000 BSB 2521409@https://boards.hellobee.com/ <p>When we were looking into buying a house, I was told we could ask the sellers to pay for part of our closing costs. </p> https://boards.hellobee.com/topic/closing-cost#post-2521386 Mon, 11 Apr 2016 12:22:42 +0000 winniebee 2521386@https://boards.hellobee.com/ <p>Sellers paying closing costs is not a thing where we live so I knew we would have to pay some. Our mortgage broker paid some, but we also had to pay some, including escrowed home insurance and taxes. </p> https://boards.hellobee.com/topic/closing-cost#post-2521373 Mon, 11 Apr 2016 12:04:49 +0000 psw27 2521373@https://boards.hellobee.com/ <p>I didn't really think about it on our first house and the seller paid them because the market was depressed at the time. For this house, I guess because we rolled our equity, I didn't really think about it as much? I don't know what they even were! </p> https://boards.hellobee.com/topic/closing-cost#post-2521348 Mon, 11 Apr 2016 11:46:02 +0000 plantains 2521348@https://boards.hellobee.com/ <p>Our closing costs plus transfer taxes ended up being around 50K!!! </p> https://boards.hellobee.com/topic/closing-cost#post-2515494 Tue, 05 Apr 2016 00:17:09 +0000 PurplePeony 2515494@https://boards.hellobee.com/ <p>We knew about closing costs generally, but were pleasantly surprised to see how low ours were. I have no idea why, since our city has been a sellers' market for years and a buyer's offer would get laughed off the table if they asked for them to be covered (so obviously we didn't)...I guess it must have been something on the bank's end? Who knows, all I cared about was that they were negligible. </p> https://boards.hellobee.com/topic/closing-cost#post-2515470 Mon, 04 Apr 2016 22:42:49 +0000 sapphire 2515470@https://boards.hellobee.com/ <p>We definitely considered it and factored it into the mortgages we were looking at. However, between a seller's credit and our Redfin commission refund, we actually ended up with a surplus at closing. </p> https://boards.hellobee.com/topic/closing-cost#post-2515321 Mon, 04 Apr 2016 18:58:22 +0000 birdofafeather 2515321@https://boards.hellobee.com/ <p>i forgot about them when saving and then when we actually went so seriously look, remembered and factored it into our downpayment options. as it stands, we'll end up with more than we realized because we have some repairs to do and negotiated money back from the seller. </p> https://boards.hellobee.com/topic/closing-cost#post-2515254 Mon, 04 Apr 2016 17:10:34 +0000 gingerbebe 2515254@https://boards.hellobee.com/ <p>We had a VA loan as well, so we just paid the origination fee. On top of that, we had a bidding war between two banks for our business, and our lender ended up just giving us like $1000 for some reason. So we ended up paying very little at the title transfer. </p> https://boards.hellobee.com/topic/closing-cost#post-2515228 Mon, 04 Apr 2016 16:33:30 +0000 pastemoo 2515228@https://boards.hellobee.com/ <p>@Mrs. Lemon-Lime: honestly I don't know, my house cost what most people's down payment is, so maybe the seller ate that cost and didn't say anything? </p> https://boards.hellobee.com/topic/closing-cost#post-2514985 Mon, 04 Apr 2016 14:02:28 +0000 sunshineandsushi 2514985@https://boards.hellobee.com/ <p>When we bought, we paid our own closing costs. We close on our house sale end of this month and are crediting $7k to buyers for their closing costs. Honestly, it irked me but my realtor reminded me to only care about my bottom line. The buyers are paying full price, with our credit. If I were them, I'd rather have that amount taken off the purchase price. But they're first time buyers and I'm told that's common. </p> https://boards.hellobee.com/topic/closing-cost#post-2514971 Mon, 04 Apr 2016 13:53:55 +0000 woodentulip 2514971@https://boards.hellobee.com/ <p>With our first house, we didn't factor it in but obviously were made sure those costs were covered. When we moved to Toronto, the land transfer taxes were significant enough that it did have an impact for us in determining our down payment, which we were trying to make as significant as possible. </p> https://boards.hellobee.com/topic/closing-cost#post-2514958 Mon, 04 Apr 2016 13:46:40 +0000 yoursilverlining 2514958@https://boards.hellobee.com/ <p>Seller (builder) wouldn't pay closing costs (or accept anything less than full offer!) so we paid them. I think we rolled them into the loan, but to be honest, I can't remember. </p> https://boards.hellobee.com/topic/closing-cost#post-2514938 Mon, 04 Apr 2016 13:40:05 +0000 Anagram 2514938@https://boards.hellobee.com/ <p>For my first house pre marriage, I bought through a program for public teachers, police, and firefighters that gives 3% of the sales price to the buyer for closing costs. So I personally didn't pay closing costs.</p> <p>For our second place, post marriage--we were buying in a hot market so sellers paying for closing costs is not a thing, and we paid them. </p> https://boards.hellobee.com/topic/closing-cost#post-2514908 Mon, 04 Apr 2016 13:21:19 +0000 FancyGem 2514908@https://boards.hellobee.com/ <p>@Mrs. Lemon-Lime: I agree. That is part of the reason why we purchased a home with everything we wanted. We don't want to move again unless we are millionaires. lol We stayed in a hotel while our home was being built and it was horrible. </p> https://boards.hellobee.com/topic/closing-cost#post-2514900 Mon, 04 Apr 2016 13:19:21 +0000 Jess1483 2514900@https://boards.hellobee.com/ <p>Somehow on our first house we ended up leaving closing with a $1000 check. I honestly can't remember on the house we bought 3 months ago what happened with closing costs. It was all figured in to the buying price, so I don't know what portion was closing and what was down payment (I mean, they gave me a nicely figured sheet, but I ignored that part.) </p> https://boards.hellobee.com/topic/closing-cost#post-2514897 Mon, 04 Apr 2016 13:18:23 +0000 Mrs. Lemon-Lime 2514897@https://boards.hellobee.com/ <p>@FancyGem: corporate relos are good! Ours is a government relo. Honestly, after owning a home I wouldn't jump into this again unless we had a relo package. </p> https://boards.hellobee.com/topic/closing-cost#post-2514890 Mon, 04 Apr 2016 13:13:42 +0000 lioneyes 2514890@https://boards.hellobee.com/ <p>in your offer packet, your realtor or broker should include a one-sheet of your estimated closing costs, based on the sales price!!! this will include down payment (less your deposit) as well as title insurance, mortgage origination fees, and reimbursements to the seller (like if they prepaid their taxes for the year). </p> https://boards.hellobee.com/topic/closing-cost#post-2514873 Mon, 04 Apr 2016 13:05:31 +0000 FancyGem 2514873@https://boards.hellobee.com/ <p>We purchased a new construction home and we had a relocation package (corporate relocation). So it worked out for us with the perks and incentives. </p> https://boards.hellobee.com/topic/closing-cost#post-2514868 Mon, 04 Apr 2016 13:03:22 +0000 petunia354 2514868@https://boards.hellobee.com/ <p>The beauty of a VA loan was that we were not allowed to pay for many of the costs associated with closing. So we paid a 1% "origination fee" (1% of our loan amount) and that was it. We knew about it ahead of time and budgeted for it, but it wasn't really a huge amount of money like it can be for conventional loans, so we were lucky. </p> https://boards.hellobee.com/topic/closing-cost#post-2514864 Mon, 04 Apr 2016 13:00:31 +0000 T.H.O.U. 2514864@https://boards.hellobee.com/ <p>For our budget for selling/buying a new house, we are factoring in 6% selling fees that we would have to pay to the realtor (although this maybe could be negotiated a bit) and then between $6-10k closing costs (again could maybe be negotiated). </p> https://boards.hellobee.com/topic/closing-cost#post-2514861 Mon, 04 Apr 2016 12:55:40 +0000 MrsKerch 2514861@https://boards.hellobee.com/ <p>We typically request seller to cover closing costs in our initial offer when purchasing a home and we expect to be asked to cover closing costs out of the proceeds when selling a home. </p> https://boards.hellobee.com/topic/closing-cost#post-2514858 Mon, 04 Apr 2016 12:53:02 +0000 Mrs. Lemon-Lime 2514858@https://boards.hellobee.com/ <p>@pastemoo: cash buyers don't have closing costs? Our pending contract is with a cash buyer. He's making out like a bandit! LOL </p> https://boards.hellobee.com/topic/closing-cost#post-2514855 Mon, 04 Apr 2016 12:51:58 +0000 catlady 2514855@https://boards.hellobee.com/ <p>Wow, so many people have gotten the seller to pay closing costs! We live in a hot market and that wasn't going to happen. However, we used Redfin and they gave us some money back for using them. We ended up applying those to our closing costs and I believe it covered most or possibly all of it. </p> https://boards.hellobee.com/topic/closing-cost#post-2514854 Mon, 04 Apr 2016 12:51:41 +0000 Mrs. Lemon-Lime 2514854@https://boards.hellobee.com/ <p>When I was looking to buy a home as a single person before I met DH, the amount of closing costs kept me a renter. LOL</p> <p>Thankfully, the two the purchases/ moves we are making as a married couple have been part of relos and closing costs are taken care of as part of the relo package. To sell DH's house when he moved to where we live now the seller needed assistance with the closing costs, but at least we didn't have to continue carrying two mortgages before our "other house fund" ran out. For our condo, I don't think we saved up for it, perse, but I was amazed just how NOT fun closing costs are no matter how expensive or inexpensive the home is.</p> <p>Your friend should get an estimation of her closing cost and just according. There's some law that says the lender can't be too far off on the estimate vs actual before eating the additional costs. Share what you can with her because if all she has is X amount for a downpayment that can totally change what she needs in a mortgage. </p> https://boards.hellobee.com/topic/closing-cost#post-2514853 Mon, 04 Apr 2016 12:50:45 +0000 pastemoo 2514853@https://boards.hellobee.com/ <p>@Raindrop: bought cash, didn't have closing costs. never thought about it! i wouldn't have been able to afford it if that had just shown up at the end... </p> https://boards.hellobee.com/topic/closing-cost#post-2514846 Mon, 04 Apr 2016 12:45:04 +0000 Raindrop 2514846@https://boards.hellobee.com/ <p>Good to hear I'm not the only one that forgot about this! It's also good to hear that most people didn't pay all of their closing cost, so if anything we might end up with some extra money after the home buying process. :) </p> https://boards.hellobee.com/topic/closing-cost#post-2514822 Mon, 04 Apr 2016 12:34:21 +0000 avivoca 2514822@https://boards.hellobee.com/ <p>Our closing costs were covered by the seller. </p> https://boards.hellobee.com/topic/closing-cost#post-2514821 Mon, 04 Apr 2016 12:32:44 +0000 Adira 2514821@https://boards.hellobee.com/ <p>We knew about closing costs, but negotiated with the seller to pay for half of them. Plus we had no intention of putting down 20% up front anyway. </p> https://boards.hellobee.com/topic/closing-cost#post-2514819 Mon, 04 Apr 2016 12:32:21 +0000 dc yoga bee 2514819@https://boards.hellobee.com/ <p>Builder paid all closing costs 😉! But, before we knew that we had budgeted 3% for closing costs. </p> https://boards.hellobee.com/topic/closing-cost#post-2514813 Mon, 04 Apr 2016 12:30:07 +0000 petitenoisette 2514813@https://boards.hellobee.com/ <p>Our lender covered the closing costs for our current/first house. We aren't buying anytime soon but I still look at houses all the time and I actually did forget about closing costs. :meh: I feel like the second house is going to be so much more expensive bc won't be a first time homebuyer loan and having to pay the broker fee, etc. It's going to be difficult to watch a lot of profits slip away! </p>