If your either a buyer or seller be prepared for the closing cost fees.
Here are some of the Buyers closing cost fees you can expect:
- Fees for obtaining a mortgage
- pre-paid interest on the new loan
- Recording charges
- Inspection costs
- Homeowners insurance
- Property taxes (prorated)
- Transfer taxes
- Title insurance and settlement fees
- Attorney’s fees
Sellers are typically expected to cover closing costs like:
- Loan payoff fees
- Real estate commission
- Doc preparation fee for the Deed
- Transfer taxes
- Title insurance and settlement fees
- Attorney’s fees.
