Hello!

The closing costs that you will need to pay will be 1% transfer tax on the property, title search and insurance, property taxes from the day of setllement until the end of the year (until the end of the school year for the school taxes), recording fees, notary fees, title endorsements, and miscellaneous fees (e.g. flood certification, tax service, etc.).

I strongly advise working with a title company to do the title search and title insurance. This is for your own protection. They will do a thorough search to make sure the property has a clear title and that you purchase the property with a clear title. The insurance is there for your protection.

You can work with a real estate professional to help you with the purchase of the property or a real estate attorney. If you work with a real estate agent, the seller pays their fee and you owe nothing to the professional. On the other hand, if you work with an attorney, you will have to pay their fee.

Working with a real estate professional and a title company is to your benefit. I strongly recommend it.

Good luck!

Brigita McKelvie, REALTOR, e-PRO, GRI
Residential, Rural and Horse Properties
Keller Williams Real Estate, Bethlehem, PA
Office: 610-867-8888 Direct: 610-393-9424
E-mail: brigita@brigitamklv.com
Web:http://www.RuralAndHorseProperties.com
Blogs: http://activerain.com/blogs/brigitam

I can send you an estimated closing cost sheet if you would like me to, as an attachment. My direct email is amcgraw@eriemoves.com. This will give you a real look at all the costs.
Alisa McGraw 814-392-0999