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.

As I negotiate the sales contract for you, I will not only work to get the sales price you want, I will also work to limit the number of closing costs for which you will be responsible.

I will walk you through the closing costs, answering any questions you may have explaining which costs are decreed by law to be yours and which are negotiable.

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.

Typical Closing Costs

Loan-Related Costs

• Loan Origination Fee
• Points (optional)
• Appraisal Fee
• Credit Report
• Interest Payment
• Escrow Account
• Survey
• Title Opinion

Taxes

• Property Taxes - Typically prorated to the day of closing 
• Transfer Taxes and Recording Fees

Insurance

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