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Browse the siteNovember 15 2016
After would-be buyers scrounge up a down payment, secure financing, and negotiate a winning offer, many are left with sticker shock following the announcement of closing costs—a not-so-tiny detail amongst real estate trends of ever-climbing costs in property purchases.
Overall, closing costs tend to run between 3 percent and 6 percent of purchase price. However, given the cost of home appraisals, credit reports, attorney and numerous other fees, not to mention highly-variable title and homeowner's insurance, buyers can find hundreds of dollars in difference between lenders. So, regardless of state, it pays to shop around.
Given a $200,000 home, a 20 percent down payment and excellent credit, let's take a look at real estate trends involving closing cost quotes from these top five notoriously expensive states: