Over Half of All Buyers Are Surprised by Closing Costs
According to a recent survey conducted by ClosingCorp, over half of all homebuyers are surprised by the closing costs required to obtain their mortgage. There's no reason this should happen. EVERY good real estate agent should be able to figure your numbers on the fly. And if they haven't sat you down for that discussion you need to find out why.
After surveying 1,000 first-time and repeat homebuyers, the results revealed that 17% of homebuyers were surprised that closing costs were required at all, while another 35% were stunned by how much higher the fees were than expected.
“Homebuyers reported being most surprised by mortgage insurance, followed by bank fees and points, taxes,…