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 we negotiate the sales contract for you, we will not only work to get the sales price you want, we will also work to limit the amount of closing costs for which you will be responsible. We 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. Whether you a buying or selling a home, we will provide you with an estimate of closing costs as part of the offer process if buying and as part of the listing process if selling. This estimate eliminates any surprises when you go to the closing table to finalize the purchase or sale of your home. 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. Standard Closing Costs Loan-Related Costs
- Loan Origination Fee
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
- Transaction Fees
- Property Survey
Taxes
- Property Taxes
- Transfer Taxes, Deed Stamps and Recording Fees
Insurance
- Homeowners Insurance
- Flood or Quake Insurance
- Private Mortgage Insurance (PMI) if required
- Title Insurance both Buyer and Seller
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