10 Tips for Helping Your Child Buy a First Home


Closing Costs

Closing costs are something that your child may not be aware of, or may not consider as an expense. These costs can range anywhere from 3-to-6 percent of the cost of the loan, which can be a large chunk of additional cash due at closing. Use your experience as a parent to guide your child through the closing cost negotiations. Many times the buyer can either split the cost with the seller, or if the seller really desperate to close, they may cover all of the closing fees.