As taking a mortgage is for the majority of people rather a big deal which will accompany them for quite some time it is wise to try to save on any unnecessary costs connected with it. All in all, it is better to spend your money of furnishing or household devices than on uncalled for fees. And as the closing costs may sometimes equal up to 5% of the total value of your new home it is worth trying to save on that. In order to get to know what you can to have a look at out advice:
1. As house dealing is a very competitive market and usually the sellers want to get rid of the house as much as you want to posses it it is good to ask the seller to pay part of closing costs. Some sellers may be prepared for that and so it should not be easy, and with others with a bit of persuasion it may be easier than you think. And your estate agent ought to be more than glad to help you.
2. Pick your settlement company as with some you may try to negotiate. You can try talking with lenders, real estate brokers, title insurance companies and escrow companies and get the best deal for you. There’s nothing wrong with that.
3. It is possible to update the survey if it is required to mark the boundaries of your new property. So you do not have to do a new one (but make sure if your lender will accept an update) and it might be enough to contact the company who did the first survey for an update. The property seller should know who did the first survey so ask him for help and again you can save a few hundred dollars.