what are my closing costs going to be?
To help answer this question for your clients, listed below are the typical or general costs that are associated with a residential real estate transaction. If you are assisting the seller in the transaction, the seller can generally be expected to pay for the following fees and charges: Owners Title Insurance Policy (Homeowners Policy of Title Insurance) Real Estate Commissions Percent of the Escrow and/or Settlement Charges Recording Fees these would be charges that are applicable to documents required to clear items of record against the seller Payoff of any existing liens or encumbrances that affect the subject property Prorations for property taxes Unpaid property taxes Homeowners Association dues and assessments, if any Bonds and Special Assessments (Sewer, paving, etc.) as per the purchase contract Depending on the terms and conditions as agreed upon in the purchase contract, the seller could also have the following additional fees and charges. Termite Inspection Fee One year Ho
