Expected closing costsThere are certain ordinary expenses linked to closing the sale of a house. These expenses are commonly divided 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 North Carolina to help guide you through the process.
Closing costs that are loan-related (More information)
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
Taxes commonly paid at closing (More information)
- Property Taxes
- Transfer Taxes and Recording Fees
At closing, these fees are often due (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 optimal sales price, but I'll also push for lower closing costs. And once we've come to an agreement, I'll walk you through the closing costs so you are aware of exactly where your money is going.
Buyers: If you are purchasing a house in Durham County, you will receive 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 astonished when you reach closing time. I'll be happy to look over the GFE with you, answering your questions and highlighting any estimates in question.