What kinds of closing costs do buyers and sellers pay.
If you’re a buyer who is getting financing, you’ll have a separate set of fees laid out by your lender. You’ll know what those fees are before you purchase your home because you’ll have had a consultation with your lender. Both cash buyers and financed buyers will have other fees, such as prepaid expenses, which are fees that include homeowners insurance and HOA fees (if applicable to your new home’s neighborhood). Certain fees like your real estate taxes or your HOA dues are prorated to the day of your purchase.
For sellers, the main fee you’ll have to pay is the professional fee, or the commission paid to the Realtors. You’ll also have a title policy, which is predicated on the sale price of your home. Beyond that, there are other little fees involved in the process.
If you’d like more information about what kinds of closing costs buyers and sellers should expect to pay, please give me a call. I’d love to help you.