What do 'closing costs' include?
A potential buyer requested that I pay all of his closing costs, $10,000 on a $200,000 house. He had included in the costs an estimate of over $3000 for insurance. Is it typical for the seller to pay the insurance premium in addition to bank fees? I also don't understand where he came up with the $3000 when I pay $1200/year, but that's beside the point.