What closing costs should you expect?
There are certain typical expenses associated with closing the sale of a house. These fees are often split between the buyer and seller, as noted in the sales contract. Many are universal, but there are nuances to each, so you'll want a real estate expert in Arizona to help lead you through the transaction.Costs pertaining to your mortgage to be paid at closing (More information)
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
Taxes you may be responsible for at closing (More information)
- Property Taxes
- Transfer Taxes and Recording Fees
Insurance fees due at closing (More information)
- Homeowners Insurance
- Flood or Quake Insurance (optional)
- Private Mortgage Insurance (PMI) (optional)
- Title Insurance
Sellers: As we get through the details of your deal, not only will I work to get the highest sales price, but I'll also campaign for lower closing costs. And once we've reached an agreement, I'll describe in detail the closing costs so you are aware of exactly what you're paying for.
Buyers: If you're purchasing a home in Glendale, you will be given a "Good Faith Estimate" (GFE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's previous experience and is required to be within an acceptable range so you're not startled when you come to the closing table. I'll be willing to go over the GFE with you, answering your questions and highlighting any estimates that seem questionable.
