There are certain expected costs related to closing the sale of a house. These fees are often divided between the buyer and seller, as instructed in the sales contract. Many are customary, but there are nuances to each, so you’ll want a real estate expert in North Carolina to help lead you through the deal.
Loan-Related Closing Costs
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
Taxes
- Property Taxes
- Transfer Taxes
- Recording Fees
Other Closing Fees
- Homeowners Insurance
- Flood or Quake Insurance (optional)
- Private Mortgage Insurance (PMI) (optional)
- Title Insurance
Sellers: As we hammer out your transaction, we’ll not only work to get the optimal sales price, but we’ll also campaign for reduced closing costs. And once we’ve reached an agreement, we can describe in detail the closing costs so you are aware of exactly what you’re paying for.
Buyers: If you’re buying a property in Durham, you will get a “Good Faith Estimate” (GFE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer’s previous experience and is required to be within an acceptable range so you’re not stunned when you arrive at the closing table. We’ll be happy to look through the GFE with you, answering your questions and highlighting any estimates that appear to be out of the ordinary.