buyers

Closing costs

Ideally, each party will pay their own closing costs associated with the purchase and the sale of a home, but they can be negotiable based on lender requirements and market conditions. The fees are usually paid at the settlement and will be itemized on the closing statement.

Buyers closing costs can range between 2-10% of the sales price.

Buyers are required to be provided a standard Closing Disclosure form at least 3 business days before the loan closing date.

Fees connected to a mortgage o LOAN ORIGINATION FEE o VA FUNDING FEE o APPRAISAL o ATTORNEY FEE o DISCOUNT POINTS o LENDER’S TITLE INSURANCE o MORTGAGE INSURANCE o RECORDING FEES o SURVEY FEES o UNDERWRITING FEE

Fees required by mortgage for escrow account o PROPERTY TAXES o PROPERTY INSURANCE o FLOOD INSURANCE

Fees connected to purchase of home o SETTLEMENT FEE o HOA FEE o OWNER’S TITLE INSURANCE o PEST INSPECTION o PROPERTY INSPECTION o TITLE SEARCH o TRANSFER TAXES