Now that you understand closing costs better from the last video (https://youtu.be/ABDSi6-BJ6M), the next question is, who pays them?
Typically this is split evenly between the buyer and the seller especially if it’s a retail transaction. But when you work with an investor, that changes. Usually, investors pay all the closing costs.
Fernando O. Angelucci is Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,
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So who typically pays Closing Costs? So, Closing Costs are usually split almost equally between the buyer and the seller in a typical transaction, in a transaction that we would consider a retail transaction, where you're using real estate agent, you're listing it on the MLS, the Multiple Listing Service, and then you're having other agents bring buyers that they represent. Now, when you work with an investor, that kind of changes, so usually investors will pay for all the closing costs and that can save the seller anywhere between three to $7,000, depending on the price of the home, usually closing costs will increase proportionally to the purchase price. So, typical things that the seller will cover or the investor will cover for the seller will be, you know, title fees, registration fees, attorney costs, tax recording fees, document recording fees. So that's an extra anywhere between, like I said, three to $7,000 in your pocket when you go and sell to an investor as opposed to going and selling on the retail market.
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