Expected closing costs

There are certain ordinary fees associated with closing the sale of a home. These expenses are often divided between the buyer and seller, as spelled out in the sales contract. Many are universal, but there are nuances to each, so you'll want a real estate expert to help direct you through your process.

Closing costs that are tied to financing    (More information)

  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

Taxes commonly paid at closing    (More information)

  • Property Taxes
  • Transfer Taxes and Recording Fees

At closing, these fees are often due    (More information)

  • Homeowners Insurance
  • Flood or Quake Insurance (optional)
  • Private Mortgage Insurance (PMI) (optional)
  • Title Insurance

Sellers: As we negotiate your deal, we'll not only work to get the highest sales price, but I'll also campaign for limited closing costs. And once we've arrived at an agreement, we'll describe in detail the closing costs so you are aware of exactly where your money is going.

Buyers: If you are buying a home, you will get a "Loan Estimate" (LE) of closing costs within three days of submitting your loan application and a "Closing Disclosure" no fewer than three days prior to closing. These estimates are based on the loan originator's previous experience and are required to be within an appropriate range so you're not stunned when you show up at closing time.  We'll be happy to go through the estimate with you, answering your questions and highlighting any estimates in question.

Don't forget to factor in closing costs when considering a home sale or purchase. Mersaes Real Estate is experienced at aiding both buyers and sellers when it comes to closings. E-mail or call us today at 9722039033 if your needs include a real estate pro experienced in the business side of real estate.

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