Updated over 6 years ago on . Most recent reply
Closing costs- negotiable?
Good morning BP nation!
Looking for any guidance or feedback regarding closing costs and how to negotiate them. Currently in the process of closing on my first investment property-doing conventional financing through a bank and putting 25% down.
I had a friend of mine look at my closing cost estimate and told me that they are always negotiable and to ask the mortgage broker about the fees.
Would appreciate any help in going about this- have a call set up tomorrow night with my broker to discuss them.
Thank you in advance for your time and assistance!
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#3 General Landlording & Rental Properties Contributor
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#3 General Landlording & Rental Properties Contributor
- Rental Property Investor
- SE Michigan
I think it is good to ask the broker about the fees and talk through them. You can sometimes find some junk that was thrown in there.
It may be worth noting, in my experience, the items that could be negotiated are generally very small relative to other elements of the transaction. If you are concerned about the deal, please do not rely on negotiating closing costs to change the deal in a meaningful way.