What are Closing Costs for a Buyer and Who Pays Them?

Utah Real Estate

The majority of closing cost associated with buying a Utah home is the cost to get the loan.  If you have cash to purchase a home, then closing costs would be much smaller.

Think about all those people at the bank helping you get a loan: the loan officer, the processer, the appraiser, the under writer, title insurance, credit reports and the list goes on.  Typically closing costs around 3% of the purchase price.

This could be a lot of money when you add it to a down payment and often the buyer cannot afford both.

So, we do a no money down program and have the seller pay for the buyer’s closing cost.  This is a tricky statement, because what is really happening is we are offering the seller what he is willing to accept and adding the closing costs on top.  So we are offering a higher purchase…

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