Do I have to pay closing cost?

[Shonari Wynter]

Closing cost is one aspect of REI I haven't fully understood. So I have just a few questions to see if I can get a better understanding

1. Is there a specific number or percentage associated with closing cost?

2. What are the list of items associated in the closing costs? For example: Lawyer fees?

3. Is it only the buyer that has to pay for closing cost?

[Mike McCarthy]

@Shonari Wynter ask a local realtor for a sample closing costs document. They vary based on city/state, but there’s no reason you can’t estimate it pretty closely.

I’m addition to closing costs, you’ll also need to pay prorated taxes, insurance, utilities, etc - which aren’t usually considered closing costs specifically, but are paid during closing.