What Closing Costs Should You Expect?

What Closing Costs Should You Expect?There are certain standard fees accompanying closing the sale of a house. These expenses are usually split between the buyer and seller, as noted in the sales contract. Many are conventional, but there are nuances to each, so you’ll want a CENTURY 21 ProLink Agent to help guide you through the process.

Loan-related closing costs

  • 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

Insurance fees due at closing

Sellers: As we hammer out your transaction, not only will we work to get the very best sales price, but We’ll also campaign for lower closing costs. And once we’ve come to an agreement, we’ll explain in detail the closing costs so you are aware of exactly where your money is going.

Buyers: When buying real estate, you’ll receive 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 a tolerable range so you’re not surprised when you get to the closing table. We’ll be glad to look over the GFE with you, answering your questions and highlighting any estimates in question.

 



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