Asked by Shavzz, Jersey City, NJ • Sun Jan 13, 2013
I am a new home buyer and like every first home buyer, I am freaking out. Each lender we call, we are given different information. After calling 5 lenders, the 6th one told us that the title search is ordered by our attorney, not by the lender. So that was a news. Can someone please tell in simple terms what all points closing consists of and who is responsible for what? Like:
1) Title search/insurance - Attorney orders it
2) Realty Transfer Tax - Seller pays it
3) Loan origination fee - Buyer is responsible to pay lender
4) Lender fee - Buyer is responsible to pay lender
5) Appraisal fee - Buyer is responsible to pay lender
6) Inspection - Buyer is responsible for arranging it
What are the other items?
Real Estate in Union City
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