SOME OF THE ITEMS ASSOCIATED WITH CLOSING COSTS ARE:
- Title Insurance Premium – Fee paid by an individual to ensure he has a marketable title or (in case of a lender) to ensure its lien position
- Real Estate Commission – Fee paid to a real estate company for services rendered in listing, showing, selling and consuming the transfer of property.
- Transfer and Assumption Charges – Fees charged by a lender to allow a new purchaser to assume an existing loan.
- Recording Fees – Fees assessed by a county recorder’s office for recording the documents of a real estate transaction.
- Loan Fees – Fees charged by a lender in connection with the processing of a new loan. These may include points, origination fee and credit report.
- Escrow Fees – Fees charged by a title and/or escrow company for services rendered in preparing documents necessary in the consummation of a real estate transaction.
- Additional Settlement – Taxes, home insurance, impounds and interest pro-ration, and termite inspection fees.
ALL FEES AND CHARGES WILL BE REVIEWED BY YOU BEFORE YOU SIGN DOCUMENTS AND TAKE OWNERSHIP.