Understanding Home Closing Costs in Southern California
Looking to buy a house in Northeast Los Angeles – NELA, as it is known – but unclear of the process and amount of money needed? A licensed Realtor can help you figure it out. But for ballpark purposes, it might help to do some preliminary study on your own.
NELA is, after all, one of the hottest markets in all of Los Angeles. Not just the obvious neighborhoods like Glendale and Pasadena, but in smaller, lesser-known neighborhoods.
You might be in love with the schools in Mt. Washington, the housing inventory in Highland Park or the neighborhoods of Eagle Rock, but you have to work through some of these details before you can call any of those places home.
Much is made about closing costs in real estate transactions, and yet these vary for several reasons. The single largest expense, the real estate commission, is covered by the seller (who pays the commission in a split between the buyer’s and the seller’s agents).
Fees the buyer will need to pay at the closing come with some variation; the following are the largest of such costs at closing:
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