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.
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