The closing costs and credits of a real estate transaction can be a strategic negotiating tool when closing. However, these costs can get you into trouble if not properly documented. Jo Ann Koontz and Jackie Durham (Koontz & Associates, PL) discuss common closing cost and credit situations you'll find yourself in when buying or selling a property.
1:52 Negotiating closing credits after inspection: cash or loan purchases.
6:47 What's included in closing costs?
9:36 Unanticipated closing costs.
13:53 What's tax-deductible out of the closing costs.
19:35 Closing cost strategy.
21:28 Tax deductible items summary.
22:56 Reducing capital gains.
24:55 Insurance and repair expenses.