Georgia’s home closing costs among nation’s highest

We are currently experiencing a strong sellers market for the first time in years. That being said homes in the Atlanta area are not sitting on the market very long. On average, properties are currently going under contract within only 8 days of being listed. When sellers are in the driver's seat of the transaction this typically means they are much less likely to negotiate price or agree to contingencies such as assisting with closing cost. So buyers be prepared to bring your wallets to the closing table....especially here in Georgia!

Jacques Couret a Senior Online Editor at the Atlanta Business Chronicle explains in his recent article below or Click here for original article

If you were lucky enough to buy or sell a house this year in Georgia, your closing costs were the 12th highest in the nation.

Bankrate.com (NYSE: RATE) ranked each state by its average closing costs based on online good faith estimates for a $200,000 mortgage with a 20 percent down payment.

Georgia is 12th highest with $1.816 in lender’s origination fees and $674 in third-party fees for a total of $2,490 in closing fees. The peach State was 11th highest in 2012.