Closing Costs in Ohio

[Jared Goodrich]

Hello BP community! Been on the BP forums, and podcasts for awhile and finally decided to make my first post. I decided to pull the trigger on my first rental property. A Turnkey Property in Ohio. 90k home with 20% down. What closing costs should i be expecting to pay (assuming its an impound account)? I received paperwork today showing $6,000 for closing costs and it seemed rather high. My estimates were $3,500 to $5000 worst case scenario. to Any help would be greatly appreciated.

-Jared

[James Wise]

Originally posted by @Jared Goodrich:

Hello BP community! Been on the BP forums, and podcasts for awhile and finally decided to make my first post. I decided to pull the trigger on my first rental property. A Turnkey Property in Ohio. 90k home with 20% down. What closing costs should i be expecting to pay (assuming its an impound account)? I received paperwork today showing $6,000 for closing costs and it seemed rather high. My estimates were $3,500 to $5000 worst case scenario. to Any help would be greatly appreciated.

-Jared

 Every lender has slightly different costs. It does seem to be at top of market though, however not by enough to not do a deal over. I'd recommend getting the deal done then looking at shopping other lenders for your next purchase.