I called a realtor I asked how much the closing costs were. And he said 5% then he asked if there was a realtor involved and he said it wouldn't be 5% then. So i think he was including realtor fees. I called documents company and they said they charge $100 to transfer the property's deed to me. Whats the difference? Arent closing costs and transferimg the deed the same?
@Account Closed No, your realtor was referring to the realtor fees that are typically 6% paid by the seller. Closing costs are associated with lenders that charge a fee to lend you money. This covers the paperwork that the bank has to do. The document company will also charge a fee to get all the closing documents in order like title search, contracts, and legal documents.
In my market, the general rule is about 8% on the sell side, and 2%-5% on the buy side, depending on financing, etc.