Closing costs you should expect

There are certain basic expenses linked to closing the sale of a house. These expenses are commonly split between the buyer and seller, as dictated in the sales contract. Many are universal, but there are nuances to each, so you'll want a real estate expert in California to help direct you through the transaction.

Costs pertaining to your mortgage to be paid at closing    (Click here for more information)

  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

At closing, the following taxes are usually paid    (Click here for more information)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Click here for more information)

  • Homeowners Insurance
  • Flood or Quake Insurance (optional)
  • Private Mortgage Insurance (PMI) (optional)
  • Title Insurance

Sellers: As we negotiate your deal, I'll not only work to get the very best sales price, but I'll also campaign for lower closing costs. And once we've arrived at an agreement, I'll give a detailed list of the closing costs so you know exactly where your money is going.

Buyers: If you're purchasing a house in Newport Beach, you will receive a "Loan Estimate" (LE) of closing costs within three days of submitting your loan application and a "Closing Disclosure" no fewer than three days prior to closing. These estimates are based on the loan officer's previous experience and are required to be within a reasonable range so you're not astonished when you show up at closing time. I'll be willing to go over the estimate with you, answering your questions and highlighting any estimates in question.

Finding the right home at the right price is just one part of a home sale or purchase. Marovish Properties is seasoned at aiding both buyers and sellers when it comes to closings. E-mail or call me today at 949-478-2892 if your needs include a real estate pro experienced in the business side of real estate.

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