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IS there anyway to determine an estimate for closing costs?

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randella
Love my little man

Member since 8/05

16290 total posts

Name:
Randi

IS there anyway to determine an estimate for closing costs?

We are trying to figure out the cost of actually moving:

- Loss on our current home
- Closing costs on current home
- Broker fee for current home
- Closing costs on new home
- Broker fee for new home
- Moving expenses

Is there a percentage I can use to get an estimate?

Anything else I am leaving out??

Posted 4/23/10 9:17 AM
 
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Cpt2007
A new love!

Member since 1/08

5946 total posts

Name:
Liz

Re: IS there anyway to determine an estimate for closing costs?

We were told closing costs are usually 3-6% of the purchase price. Not sure if that is still accurate though.

Posted 4/23/10 9:44 AM
 

Beth
The Key to your new home....

Member since 2/06

24849 total posts

Name:
Beth

Re: IS there anyway to determine an estimate for closing costs?

you don't pay a fee on the new home - the seller pays the fee

Posted 4/23/10 9:52 AM
 

randella
Love my little man

Member since 8/05

16290 total posts

Name:
Randi

Re: IS there anyway to determine an estimate for closing costs?

Posted by Beth

you don't pay a fee on the new home - the seller pays the fee




Really?? I think I remember paying some portion of the fee when we bought this place... Is NJ different?

Well, we are buying in NY-- so that's good. Even if we have to pay the fee here, the money will be less on what we are selling vs buying.


Posted 4/23/10 10:13 AM
 

Beth
The Key to your new home....

Member since 2/06

24849 total posts

Name:
Beth

Re: IS there anyway to determine an estimate for closing costs?

I have no clue about NJ- but in NY the seller pays the fee to both agents

unless you have a buyers agent that wont accpet what ever comission the listing is paying...which is rare

Posted 4/23/10 11:25 AM
 

eddiesmommy
best buds!

Member since 5/09

11524 total posts

Name:
Melissa

Re: IS there anyway to determine an estimate for closing costs?

check this out
http://www.prudentialelliman.com/MainSite/Guide/LIClosingCosts.aspx

Posted 4/23/10 11:28 AM
 

randella
Love my little man

Member since 8/05

16290 total posts

Name:
Randi

Re: IS there anyway to determine an estimate for closing costs?




thanks--- this is helpful.

Posted 4/23/10 3:00 PM
 
 

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