What do you think of this deal?

[Chad Bixby]

We found a rehab in the local area in a good neighborhood surrounded by good schools.  Here are the specifics.

Sale of home = $80,000
Cost of rehab = $30,000
Real Estate Fees =$6750 (max)
Bank Closingg Fees (I need help here)
ARV = $140-$150k

There are comps and homes listed that support the ARV so that I am not so concerned with that. Since this is our first flip, I have done a lot of the math required to make this deal a reality, but I am completely stuck on estimating closing costs (specifically with the bank).

I have negotiated with my realtor a 1.5% listing fee and a 3% buyers agent fee so my real estate closing costs will be roughly $6750.  Our current contract paperwork from the bank is telling me the closing costs to assume the loan will be roughly $5000 which seems extremely high (this is a conventional/rehab loan at 5.6%).

Does anyone have any experience with this that can tell me if $5k closing costs to assume the loan seems high or not, and #2 what do you estimate the closing costs will be when we sell the home?  These are the 2 pieces missing for us to get all the math to work.

And finally, knowing what you know and seeing what you see...  is this a good deal?

Thanks in advance!

Chad ~