What closing costs should you expect?

There are certain expected costs related to closing the sale of a house. These fees are often split between the buyer and seller, as spelled out in the sales contract. Many are conventional, but there are nuances to each, so you'll want a real estate expert in North Carolina to help show you through your deal.

Closing costs that are tied to financing    (Click here for more information)

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

At closing, the following taxes are usually paid    (Click here for more information)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Click here for 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 sale, not only will I work to get the optimal sales price, but I'll also push for reduced closing costs. And once we've come to an agreement, I'll fully explain the closing costs so you are informed of exactly where your money is going.

Buyers: If you're buying a property in Durham County, you will get a "Loan Estimate" (LE) 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 stunned when you arrive at the closing appointment. I'll be happy to review the LE with you, answering your questions and highlighting any estimates of concern.

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