Minimizing Closing Costs by Bold Real Estate Group

16 Sep

Minimizing Closing Costs by Bold Real Estate Group.  Closing costs are one of the least understood aspects of the home buying process. Most home buyers have a vague notion when they buy a home that there will be additional costs besides the down payment, but nearly every buyer is shocked when they see the first estimate of the total cash they will need at their closing. You become so busy negotiating the price of the home that homebuyers forget about one of the biggest expenses involved.

Out-of-pocket costs are the hardest costs to reduce but just about every expense can be negotiated;

1.Escrow and Title fees are negotiable. Homebuyers can choose a preferred Title Company; do some research based on reputation and costs.  Most seasoned Realtors have clout with certain companies and they can negotiate these fees down to save a deal.

2.Appraisal fees can be financed in the property or completely erased.  Compare mortgage companies and their fees; look for one that does not charge up front appraisal fees or simply negotiate with the lender.  This fee can be a few hundred dollars.  All can be negotiated including the amount of the credit report.

3.Points on the loan can be purchased.  A point is equal to one percent of the mortgage loan amount and is actually pre-paid interest that helps reduce your interest rate. A zero point loan will only cost a few dollars more a month and will eliminate having to outlay thousands of dollars up front.  Most home buyers will resell the home in a few years and the money spent on the monthly payment will greatly outweigh what is saved.

4.PMI (Private Mortgage Insurance) is not necessary when the buyer puts 20% down on the loan.  If there is PMI there are upfront reserves which can be in the thousands of dollars.  Take a loan with no PMI and pay a slightly higher payment, which will end up costing less in the long run.

5.Pay 20% down on a loan and avoid tax and insurance compounds in escrow.  It is easier to pay for the taxes as they come due, opposed to paying several months of upfront tax proceeds right now.

6.Another part of pre-paid items that can be reduced to zero is pre-paid interest. Because all mortgage loans are due on the first of the month, you will have to pay interest from the day you close until the end of the month. By closing on the last day of the month, you will have no pre-paid interest due and can save hundreds of dollars.

With these simple guidelines, the buyer can seller can both save money on closing.

About the Author:  Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to

View thousands of new and resale homes:,, a Golf Style Private Community,  a 55+ Resort Lifestyle Community,

Home | Homes For Sale | Homes Short Sale | Search Foreclosures | Open House | Homes For Rent | Renter’s Insurance | Cascades Resources | Cascades Events | Community Tour | Home Virtual Tour | Driving Directions | Cascades Q & A | Cascades Floorplans | Cascades HOA | Community News | Community Providers | Cascades BLOG | Sign-up for a Tour! | Buyer’s Resources | Dream Home Finder | Search MLS | Home Inspection | Home Warranty | Florida Relocation | Property Taxes | Tax Estimator | Insurance Quote | Buy A Short Sale | Seller’s Resource | Market Analysis | Short Sale Inquiry | Our Commitment | Outbound Relocation | Sold Homes Report | Jobs Opportunity | Senior Care Living | | Retired Brains | Tradition | The Vineyards | Kings Isle 55 Plus | Magnolia Lakes | Sawgrass Lakes | Lake Forest | Lake Charles | Tesoro Homes | The Club SLW | Belmont SLW | Country Club Estates | Lakes At SLW | Viscaya Falls | PGA Village | Verano PGA | Seasons 55 Plus | Tampa Homes | Ocala Homes | Naples Homes | Fort Myers Homes | Jacksonville Homes | Ponte Vedra Homes | Orlando Homes | New Developments | Discovery Tours | Costa Rica Homes | Florida Package | Costa Rica Package | Real Estate Glossary | Golf Course Finder | FREE Moving Quote | Market eNewsletter | Currency Converter | FREE Credit Score | Airport & Flights | About St. Lucie West | Connect Utilities | Global News | Books WebStore | Retirement Homes By State | Local Hospitals | Dining Guide | St. Lucie County Profile | New Developments | Cost of Living Data | Taxes by State | For Buyers | For Sellers | Homeowners | Mortgage Calculator | Mortgage Rates | Loan Quote | Get Pre-Approved | Mortgage Articles | Lending Sources | Financing Terms | St. Lucie County | Martin County | Palm Beach County | Indian River | Broward County | Brevard County | Okeechobee County | Miami-Dade County | Referral Network | Real Estate Career | Real Estate School | Guest Bloggers | Contact Us | Testimonials | About Us | Our Blog | About Florida | Se Habla Español | Why Use A REALTOR® | North Florida Homes | Privacy Policy | Florida New Developments


One Response to “Minimizing Closing Costs by Bold Real Estate Group”


  1. » Discounted Mortgages are a Great Way to Generate Residual Income Through Real Estate Online Mortgage - September 18, 2011

    […] James Klobasa addthis_url = ''; addthis_title = 'Discounted+Mortgages+are+a+Great+Way+to+Generate+Residual+Income+Through+Real+Estate'; addthis_pub = ''; Discounted Mortgages are a Great Way to Generate Residual Income Through Real Estate Mouse here for Related LinksMinimizing Closing Costs by Bold Real Estate Group […]

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: