There are certain ordinary fees associated with closing the sale of a house. These expenses are commonly divided between the buyer and seller, as spelled out in the sales contract. Many are customary, but there are nuances to each, so you'll want a real estate expert to help guide you through the process.
Costs pertaining to your mortgage to be paid at closing
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
Taxes you may be responsible for at closing
Property Taxes
- Transfer Taxes and Recording Fees
At closing, these fees are often due
Homeowners Insurance
- Flood or Quake Insurance (optional)
- Private Mortgage Insurance (PMI) (optional)
- Title Insurance
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Sellers: As we get through the details of your sale, I'll not only work to get the very best sales price, but I'll also advocate for reduced closing costs. And once we've reached an agreement, I'll give a detailed list of the closing costs so you are aware of exactly what you're paying for.
Buyers: When purchasing a home, you'll get a "Good Faith Estimate" (GFE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's past experiences and is required to be within an appropriate range so you're not shocked when you come to closing time. I'll be willing to look at the GFE with you, answering your questions and highlighting any estimates in question.
Stella Alexander - REALTOR®, GRI, CDPE
904-625-7924
salexander@watsonrealtycorp.com
http://StellaSellsRealEstate.com
"Stellar" Service...Every Time!
