We are in the mortgage process and now we are looking for attorney. If somebody could give us a rough idea on how much would it cost (total cost) for closing a house title search etc, that is highly appreciated. I live here in CT if that helps. The property is located in Sprague CT.
It depends a lot on who you use for a bank. Some mortgage companies charge a ton of costs and some don't. Also, FHA has a huge impact as well and if you are paying points. An attorney should be $500 plus title search (around $150). You also have to pay for something called title insurance which will be around $1000. If you close at the beginning of the month it will be more than the end because you are paying interest for the month up front. Your bank will give you a printed estimate of closing costs, if they don't, ask for it immediately. Hope this helps a little! I am a Paralegal in a Real Estate Firm.
A good rough estinate is 3% of the purchase price for everything, but it does vary. Depending on what month you close in, there are prorations for taxes (the credit could go either way depending on when they were last paid) and possibly for oil in a tank. Attorney's fees can vary as well. Ask you lender to give you a Good Faith Estimate. They should be able to get pretty close.
Hello Maria..
I really don't know very much about the Connecticut Market, but I think that closing costs are pretty much the same for most mortgages. Your Mortgage Broker should have given you a "Good Faith Estimate" of your closing costs. If he didn't, call him or her as soon as you can and get it... It is required here in Florida and I would think everywhere else in the country too. Just about ALL of your closing costs will be Mortgage related.
The amounts would be determined by the time of the month that you close. You will have to pay for
Appraisal, Survey, Title Insurance, Credit Report, Inspections, Taxes, Insurance, Pre Paid Interests, Escrow, Doc stamps, recording fees, Attorney, etc, etc, etc,. Here in Florida the costs can run anywhere between 4% to 6% of the purchase price... I hope that helps a little, but PLEASE get with your Mortgage person asap.. They will be the best one to answer your question. If they don't , then get another Mortgage person.
Good Luck... Joseph Zajkowski - Hokiday Florida
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