WHAT CLOSING COSTS ARE ALL ABOUT

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.

Posted on April 7, 2019 at 4:17 pm
Sally Melby | Category: Uncategorized

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