what is included in closing costs for buyer
Here's a list of common closing costs that cash buyers may be required to pay: 1  Appraisal. 2  Property inspection. 3  Title insurance. 4  Survey. Escrow fees and bank transfer fees to fund escrow. 5  Notary. Taxes, such as property  tax. Local, county, and state 1  government fees. Attorneys  fees. Homeowners insurance premium.
Typical closing costs are around 2-5% of the purchase price of the home. So on a $100,000 home, the closing costs will be between $2,000 - $5,000. Add this amount to a typical down payment of 20%, or $20,000, and it is easy to see why a home buyer would want to limit closing costs as much as possible. 1. Negotiate the price of the home.