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Elizabeth Weintraub

The Confusion Over Recurring and Non-Recurring Closing Costs

By December 28, 2012

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A Good Faith Estimate (GFE) does not really explain recurring and non-recurring closing costs to buyers.

In fact, a GFE just makes closing costs even more confusing to many buyers. There are buyers who don't understand that they need to pay closing costs at all, much less understand recurring and non-recurring. When sellers credit buyers for closing costs, which could be as much as 3% to 6% of the purchase price, sometimes it's hard to use up the entire credit. So, what do you do? You don't want to lose all of that money.

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At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.

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