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kelycast

Who pays closing when refinancing a mortgage?

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9 minutes ago, kelycast said:

My daughter and her boyfriend bought a house together and broke up, my daughter left and he wants to buy the house. Who pays the closing fees if he gets approved?

 

 

That's something they negotiate as part of the deal. There is no law that requires any particular party to pay it. Just make sure whatever they decide is put into the contract for the deal. 

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In a typical home purchase transaction, there are some closing costs that the buyer usually pays (e.g., fees associated with obtaining the mortgage) and some the seller usually pays (e.g. the listing agent's commission).  However, as with many aspects of these transactions, who pays for what can be the subject of negotiation.

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1 hour ago, kelycast said:

my daughter left and he wants to buy the house. Who pays the closing fees if he gets approved?

 

The buyer and seller will be equally responsible for paying these costs unless they mutually agree to something else.  In other words, it's entirely up to them to decide this.

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