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Closing Costs

Posted by admin on October 17, 2015
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Expected closing costs

There are certain ordinary costs linked to closing the sale of a house. These fees are usually split between the buyer and seller, as instructed in the sales contract. Many are universal, but there are nuances to each, so you’ll want a real estate expert in Massachusetts to help direct you through the transaction.

 

Loan-related closing costs    (Details)

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

Taxes you may be responsible for at closing    (Details)

  • Property Taxes
  • Transfer Taxes and Recording Fees

At closing, these fees are often due    (Details)

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


Sellers: As we hammer out your sale, We’ll not only work to get the highest sales price, but we will also push for limited closing costs. And once we’ve come to an agreement, we’ll describe in detail the closing costs so you are aware of exactly what you’re paying for.

Buyers: When purchasing a home, you’ll get 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 prior experience and is required to be within an acceptable range so you’re not stunned when you arrive at closing time. A member of our team will be willing to look at the GFE with you, answering your questions and highlighting any estimates that seem off.

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