I Need Help, FIrst Deal, Is It Worth It?

[Cody Jensen]

Hi Everyone,

So here's the deal, i found a 3-family and now the sellers have accepted my offer, i've been dealing with my lender and agent but now the number keep getting higher and higher. Does this sound right? 

Purchase price: $179,900

*Estimated prepaid costs :$4,184.56

Estiamted closing costs: $9,197.54

Total costs (Add items : $193,282.10

Prorations charged to buyer: -$528.66

Loan amount: $134,925

Cash from/to borrower: $58,885.76

Does this seem high for closing costs and all? Im putting 25% down on the property. Now i'm thinking to backing out, nearly $60K out of pocket for a property less then $200K ?

Looking for your assistance.

Thanks