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Updated about 8 years ago, 12/16/2016
Closing Costs - Am I paying too much?
Hey BP,
I'm new to real estate investing, and wanted to get some opinions on closing costs.
I have already bought and sold a primary residence, prior to really getting into doing it as an investment. Made a profit, but was primarily due to market appreciation.
The reason for my question is I feel like paid way too much for closing, both when buying and selling. I've seen a few other closing assumptions used and they were less than what I paid:
Buying - Purchase Price: $135,000. Closing costs: ~$7,000
Selling - Selling Price: $180,000. Closing costs: ~$14,000
Did I get ripped off? Is this a function of my real estate agent? Should I find ways to lower this or suck it up?
I have the final HUD somewhere that shows the detail. I'll see if I can dig it up for specifics.
Thoughts?