Closing Costs Too High? :\

[Account Closed]

Hi BP - what do you think of this closing cost breakdown? Feel like this is a bit unnecessarily high? Property is in upstate NY (not NYC), investment property, and non-owner occupied. House was 58k, 25% down.

[Caleb Heimsoth]

Looks pretty standard to me. What’s killing you is the property taxes at 3k. I’ve bought several rentals that all have an average purchase price of 62k. Average closing costs are around 4K.

My annual property taxes are 950-1200 typically