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Jerry T.J. Sun's Blog

By Jerry T.J. Sun | Broker in San Marino, CA

Closing Cost - What Buyer Can Expect When Buying a Home?

What You Can Expect to Pay For When Buying Real Estate

  • Title Insurance - Premiums for a title policy on your property based on your loan amount
     
  •  Escrow Fee - Is for the escrow company to process all of the property documents- Usually split 50/50 with the seller 
     
  • Escrow Document Preparation Fee
     
  • Notary Fees - A fee is charged to notarized documents that will be recorded at the county recorder's office.
     
  • Recording Charges for all documents in the Buyer's name
     
  • Interest on new loan from date of funding to 30 days prior to first payment
     
  • All new loan charges - this could include a fee for credit reports, applications, etc.
     
  • Tax Proration - a prorated amount from the date of ownership.
     
  • Homeowner's Association Transfer Fee (if a condo, town home or planned unit development)
     
  • Fire Insurance Premium for the 1st year

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