The kind of closing costs you can expect to pay depends on whether you’re a buyer or a seller.
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What kind of closings costs should buyers and sellers expect to pay once a home sale nears completion?
If you’re a buyer, there are loan-related costs (i.e., processing fees and underwriting fees), appraisal fees, tax service fees, and flood zone certification fees to consider. You also have to deal with prepaid expenses in order to establish your escrow account. This includes homeowners insurance, mortgage insurance, taxes, etc.
On the title side, you have very few expenses to deal with, but some negotiable items to consider are the title company closing fee, survey fee, and closing fee.
If you’re currently in the process of closing on a home and you’d like an estimate of what you’ll pay in total closing costs, give me a call and I’d be happy to give you one.
If you’re a seller, things are a lot different. You’ll pay a broker’s commission (usually 6%), title fees, legal document preparation fees, special assessment fees, survey fees, HOA fees, and homeowner transfer document fees.
If you’re currently in the process of closing on a home and you’d like an estimate of what you’ll pay in total closing costs, give me a call and I’d be happy to give you one. Your lender can also provide you with a good-faith estimate of your loan fees. If you’re getting ready to sell, I’d be happy to give you an estimate as well.
If you have any more questions about this topic or you have any other real estate needs I can assist you with, don’t hesitate to reach out to me. I look forward to speaking with you.