Hi guys I am a new wholesaler and I am about to close on my first wholesale deal. I am preparing to send over a contract to the seller to sign but I am not sure how much the closing cost should be. How do I found out how much the closing cost will be?
Why is closing cost in your P&S?
In general, the closing cost estimators on the websites of major banks seem to be pretty close to correct. For example: https://www.bankofamerica.com/home-loans/mortgage/...
You can also call your title company and ask them what they think the closing costs should add up to given the price and terms of the deal you have.
Richard thank you for the feedback. I understand that my end buyer will be paying the closing cost but I also wanted to include it in my contract since the seller and I agreed on me (the end buyer in my case) paying for the closing cost.
Thank you for sending me the link to the closing cost estimator.
I would call the title company you plan on using and ask them what they charge and how much title insurance will be.
Andrew thank you for the advice. This will be helpful.
Will do John. Thank you!
If you have an experienced buyer, he will know well enough how much the closing costs will be.........Roland
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