BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$4250
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$42, 500
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$3053
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$80, 750
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Detailed explanation-1: -Closing costs typically range from 3%–6% of the loan amount. 1 Thus, if you buy a $200, 000 house, your closing costs could range from $6, 000 to $12, 000. Closing fees vary depending on your state, loan type, and mortgage lender.
Detailed explanation-2: -Closing costs are paid according to the terms of the purchase contract made between the buyer and seller. Usually the buyer pays for most of the closing costs, but there are instances when the seller may have to pay some fees at closing too.
Detailed explanation-3: -Who pays the majority of closing costs in Florida? Sellers in Florida pay more in closing costs than buyers do, because sellers are responsible for covering the real estate commission fees on the deal. These typically amount to about 6 percent of the home’s purchase price.