Home Buying in Sweetwater>Question Details

Pat Wuschke, Home Buyer in Lenoir City, TN

WHO CLOSES A REAL ESTATE SALE?? AN ATTORNEY OR TITLE COMPANY ?? WHAT ARE THE APPROXIMATE CLOSING COSTS BASED ON ?? SALE??

Asked by Pat Wuschke, Lenoir City, TN Thu May 24, 2012

EMAIL ADDRESS patwuschke@hotmail.com

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I am not sure of the laws in TN, but if you have title companies there I am betting they can close a loan or an attorney can for sure. Here in NC we can only use attorneys (I assume because we have so many law schools), but either can if you have both. A title company will need a lawyer to draw up the deed, but they usually have one they use for that.

Closing costs are mostly costs generated by the lender such as discount points, origination fees, documents fees and like that. Each point is 1% of the loan amount so 1.5 points on a $100,000 loan would be $1,500. Other costs are inspection fees, recording fees, survey, appraisal and costs for prorated taxes and several months of insurance. Your lender will provide you a list of anticipated closing costs.
0 votes Thank Flag Link Thu May 24, 2012
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