closing costs

Common Closing Costs

If you have ever bought or sold a home, you’re probably aware of the costs associated with a real estate transaction. If you’re a first-time buyer, however, you might want to know what “closing costs” to expect. Keep in mind costs and fees vary from state to state, and there may be unique costs to your locality, but the following are pretty common:

* Escrow fees
* Property taxes
* Interest
* Loan origination fee
* Loan discount points
* Title insurance
* Survey fee
* Recording fee
* Document preparation fees
* First payment to escrow account for taxes
* First payment to escrow account for insurance
* Homeowners insurance
* Homeowner association fee
* Home inspection report
* Property appraisal

Once you pinpoint the home of your dreams, ask Phil and he will be able to give you a good estimate of anticipated costs.