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I received a good faith estimate today and I am so confused. We asked the seller to pay up to 6% of the purchase price for the closing costs. On the good faith estimate, it says seller pays $ 4000 for closing. what do we pay for during closing? Do we still have to pay for the prepaid items?

1 Thought on if the seller pays the closing cost, what do we pay for?
  1. Reply
    General Custer
    July 29, 2011 at 9:18 pm

    You must pay charges for taxes, insurance and other items that pay for things that you will incur after closing. “Pre-paids” items paid in advance.

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