Here’s a quick rundown of the kinds of closing costs you should expect.
Whether you’re a buyer or a seller, you need to anticipate additional costs at the end of your transaction beyond just the purchase price and down payment. But what do closing costs entail? Today I’ll cover a few costs that each party should expect to face at the closing table.
For sellers, closing costs are the costs it takes to sell their homes. Seller closing costs include attorney fees, title fees, city fees, recording fees, deed fees, overnight fees, and others.
Buyers’ closing costs, on the other hand, are the costs of purchasing a home. Prepaids are the most important settlement expense for buyers; those fees are collected upfront and take care of insurance, taxes, and other items set up on your behalf. Beyond that, buyers will have lender fees like origination fees, attorney fees, and title fees.
If you have any questions or would like to hear more details about closing costs, don’t hesitate to give us a call or send an email. We’d be glad to help you.
