First time home buyer tip #16
Did you know that Colorado ranks as the 10th highest state for closing costs? Ouch. But, did you know that you can negotiate some of these charges? Your lender or mortgage broker is required by law to provide a “Good Faith Estimate” of your closing costs within at least 3 days of accepting the loan application. The article noted above recommends that you ask your lender specifically what the fees represent. Also according to the article the negotiable lender fees are mostly contained in the codes represented by numbers in the 800’s.
The article goes on to point out that you can also negotiate title fees which are typically in the 1100 code section. It gets a little trickier here because typically the seller’s agent picks the title company. (Which when you think about it is kind of backwards, but I don’t make the rules I just follow them – uh, most of the time.) If you want to negotiate title fees though don’t wait until you’re sitting at the closing table – it’s kind of awkward and you don’t have a lot of negotiating power at that point.
I love helping first time home buyers so if you have any questions or would like help viewing an available home please don’t hesitate to contact me at 303.887.1883 or beth@bethskinner.com.
Click here to search for homes in Broomfield, CO priced under $200,000. I’m so happy you took the time to read one of my blog posts! Click here to search for a home for sale in the Broomfield, Westminster, Thornton or Northglenn, CO area. OR click here to find out what your current home is worth. As always, no registration is required, and any information you give me will NEVER be used to spam you or sold to someone else. EVER! If you have any questions about buying or selling a home in the north metro Denver area don’t hesitate to contact me at 303.887.1883 or beth@bethskinner.com – and yes I actually return phone calls and emails! I am an extraordinary Realtor who strives to constantly go above and beyond what you might expect from your real estate professional and I love to surprise my clients with phenomenal results. Post Footer automatically generated by Add Post Footer Plugin for wordpress.
Click here to search for homes in Westminster, CO priced under $200,000.
Click here to search for homes in Thornton, CO priced under $200,000.
Click here to search for homes in Northglenn, CO priced under $200,000.
photo credit: Deputado Bruno Covas
Call me or email me. I'd be happy to answer any questions you might have.
