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 your Realtor® negotiates the sales contract for you, they will not only work to get the sales price you want, but most likely will also work to limit the number of closing costs for which you will be responsible.
Be sure your Realtor® walks 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 upon the loan officer's past experience and may not include all the closing costs. Have your Realtor® review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates they believe to be low.
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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Bentley Realty Group 2006 - 2010
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