Closing Costs Explained Visually

Sounds like a scam

Researching because I'm considering buying a condo. So much money goes into a buying home. Unless you make really good money you're better off renting.

They just find ba to charge you- this entire process could’ve been done easily. But they make it complicated to charge money

So this is used for that to purchase this for these and this is in charge of those. Got it.

Yup, another thing not covered in our useless western school system

Helpful explanation and would be even better if the persons illustrated showed some diversity instead of all appearing to be white, heteronormative, able-bodied, slim, etc. Public depictions of "typical" people matter as a display of norms. Very easy to fix.

thankyou

They want $55K in closing costs for selling my home. That's a lot of money for some high school educated (if that) people who can spend 30 seconds on the internet doing a title search and filing the new title. (When I bought the home 10 years ago the title papers were filled with errors from a teenager preparing them and explaining their errors to the teenager got me a confused dog look.) Also, I can understand paying 6% commission when houses were $25K and it took a lot of knowledge and professionalism to sell a house but now it's really just corruption.

The correct order you should have put #1. Lenders #2. Title fee #3. Gov record 🏦

The government is always taking a "little bit" of something. They have to pay their federal debts too😂😂😂😂

great

Insurance this Insurance that , FFS! 😡

A visual representation is very helpful!

Lol in other words, it’s a huge middle man rip off.

Love the video, very helpful, you simplified it so well, thankyou.

But it doesn’t explain why closing costs are 10%ish of the sale price, not a fixed fee

Thank you for this video. It helped me understand so much more.

I love your video. Is it ok for me to use this video for training my clients and on my website?

Real estate market a real scam ripoff in general making everything hard and inflated prices all time for profits $$$$$

These are things they should touch on in your senior year of high school

The world is truly amazing. Fraudulent practice has drawn simple transactions to extensive process with prohibitive costs!

Thosw angel wings should be devil horns

He explained the SHIT out of it!

Can a buyer just purchase the home without inspection? I mean, yea, its a risk the buyer take.

I can't help but imagine trying to consume this video with low vision / blindness / a cognitive disorder. Please work on improving accessibility. Quick tip: Replace the word "this" with the actual thing you're referring to.

what a scam

Does everything explained in the video go into an Escrow Account?

If you pay cash cant a quick deed be used?

He broke it down.

How can title insurance prevent someone ,who legally can claim there ownership of the property?

This is crazy,, all these fees just to buy a wooden box..Smh🤦‍♂️

what if the price showed by the company is not the real price...is thebuyer entitled for a refund bec there is a mistake with the companys or developer staff ?

Unless you are a veteran then you don't pay for lots of service, but instead the VA pays for you.

suprb explaination...i need know how interest rates go up & down sir?

Why does this say that there is still a HUD 1? Now it's a Closing Disclosure Form.

I wish I had my whole life explained to me visially :( VERY HELPFUL VIDEO!

It's racket for businesses and government to make money off of what is yours.

From what I understand don't the sellers generally pay the closing costs if you have a good realtor?

Cost is expensive

Be sure to know if you are in a State that uses Closing Attorneys (i.e. South Carolina) as opposed to Title Companies. But the process is the same.

This is such a great tool to share with clients. Excellent display!

excellent job explaining things.

Im 22 and still lost af after this video

Great explanation!  Really needed this!  Thanks!

Where does he find all of these videos...?

Sure, the only thing not clear to me is how the closing cost can vary by thousands with each lender, from 5k to 13k from chase recently......for exactly the same loan amount and terms. Loan officers are like car salesman, candy coat a loan cost and interest then slip in a 2k fee......why isn't this regulated and stop the swindling of clients?

can we post this video on our website?
just want to be sure we are not illegally using it

Not only is this visual excellent to break down closing for the buyers or even the sellers. It also re-enforces my knowledge of closing procedures! Great to use for study cap to prepare for the Real Estate exam!