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Closing Costs
There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract.
The real estate commission is included in the price of the home.
I will walk you through the closing costs, answering any questions you may have explaining which costs are to be yours and which are negotiable. If you're getting a loan, it's important that you obtain a good faith estimate from the lender or mortgage company on what your costs will be.
Good Faith Estimate
Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. I will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates I believe to be low.
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Standard Closing Costs
Loan-Related Costs
- Loan Origination Fee
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
Taxes
- Property Taxes
- Transfer Taxes and Recording Fees
Insurance
- Homeowners Insurance
- Flood or Quake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
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