what are closing costs?

Asked by Marcie Baker, Athol, MA Sat Nov 16, 2013

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5
Anna M Brocco, Agent, Williston Park, NY
Sat Nov 16, 2013
Ask your loan officer for a good faith estimate; closing costs are the expenses incurred in purchasing in addition to the price of the property.
1 vote
Richard Shap…, , Framingham, MA
Sat Nov 16, 2013
Closing costs include many items. To have an accurate estimate it's helpful to know whether this is a purchase or refinance. What the loan amount is. It's a purchase, what is the purchase price?

I would be happy to give you the cost worksheet that will show you all those fees in their coats. Just contact me through my profile.

Most lenders should be within a few hundred dollars of each other
1 vote
Territory.c…, Agent, MA,
Fri Dec 13, 2013
Closing costs are calculated on several details none of which you have provided here. They vary purchase to purchase, no set amount. They can be anywhere from $2500-$8000 (sometimes more).
Talk to your lender.

Good luck!

Territory Real Estate
Serving Home Buyer's Exclusively
617 848 5407 ext 704
Web Reference:  http://territory.com
0 votes
Tammy Hayes, Agent, Port Charlotte, FL
Sat Nov 16, 2013
Buyer Expenses in the state of Florida - may differ in your area. Check with a local lender or a local Realtor.

This is a general list of expenses involved in purchasing a home.

You will need proof of funds if paying cash or a pre-approval letter from a lender to submit with an offer on any property.



Attorney Fees (if required)


Recording Deed


Survey


Termite Inspection


Home Inspection


Defective Drywall Inspection


Mold Inspection


Flood Insurance


Well Test


Proration of Real Property Taxes


Proration of Maintenance Fees


Homeowner Insurance


Broker Transaction Fee


Additional Expenses if Mortgage Obtained


Mortgage Title Insurance Policy


Service Fee or Origination Fee (if applicable)


Doc Stamps on Note (.35 on each $100)


Lender's Attorney Fees


Appraisal Fee


Assumption Fee on existing mortgage


Intangible Tax (.002 on New Mortgage)


Recording Mortgage


Credit Report


Escrow Account (Taxes and Mortgage)
0 votes
Louis Wolfs…, Agent, Needham, MA
Sat Nov 16, 2013
are you asking about a specific property or closing costs in general.

Closing cost in general include, points(if any) title insurance for the lender and title insurance for you, survey, recording charges, escrow for taxes and insurance and the bank and your attorney's fee's.
0 votes
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