Closing Costs

[Melani]

Why do closing costs vary so much agency to agency?

We put an offer in with the TS and their agent quoted $322 for closing costs. We were looking at another contract at a different broker and she quoted me $400 and this was for fewer points (same $/pt.).

Melani

 

[5forDiz]

Could be a number of things; they may use a flat rate based on a point range or it could have to do with company that does title search, etc., whether or not there is title insurance charge included, etc

Ask for an itemized breakdown of the closing charges.

Also, resale contracts containing smaller numbers of points will tend to have higher closing costs than a resale with larger number.

Best wishes.

 

[drusba]

Disney has the advantage of being able to cut better deals with entities needed for closing based on very high volume. Even so and doing resales, companies vary in what they charge, Also, closing costs really do not vary that much per size of contract -- buy 2,000 points in resale market or 50 and the cost will be somewhat different but not by a large amount because many of the costs of closing are costs that do not depend on the dollar size of the sale.

 

[Melani]

Well I guess tha explaines it.
Thanks