What closing costs should you expect?There are certain ordinary costs related to closing the sale of real estate. These costs are often split between the buyer and seller, as spelled out in the sales contract. Many are conventional, but there are nuances to each, so you'll want a real estate expert in California to help guide you through your deal.
Loan-related closing costs (More information)
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
Taxes commonly paid at closing (More information)
- Property Taxes
- Transfer Taxes and Recording Fees
At closing, these fees are often due (More information)
- Homeowners Insurance (if a home)
- Property and Liability insurance
- Flood or Quake Insurance (optional)
- Private Mortgage Insurance (PMI) (optional)
- Title Insurance
Sellers: As we hammer out your transaction, not only will I work to get the highest sales price, but I'll also advocate for limited closing costs. And once we've arrived at an agreement, I'll explain in detail the closing costs so you are informed of exactly what you're paying for.
Buyers: When purchasing real estate in Los Angeles County, you'll get a "Good Faith Estimate" (GFE) of closing costs. The estimate is based on the loan officer's past experiences and is required to be within a tolerable range so you're not astonished when you show up at the closing table. I'll be glad to go over the GFE with you, answering your questions and highlighting any estimates that seem off.