Closing costs you should expectThere are certain normal fees related to closing the sale of a house. These expenses are usually split between the buyer and seller, as instructed in the sales contract. Many are universal, but there are nuances to each, so you'll want a real estate expert in Florida to help guide you through your deal.
Loan-related closing costs (More information)
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
At closing, the following taxes are usually collected (More information)
- Property Taxes
- Transfer Taxes and Recording Fees
Insurance fees due at closing (More information)
- Homeowners Insurance
- Flood or Quake Insurance (optional)
- Private Mortgage Insurance (PMI) (optional)
- Title Insurance
Sellers: As we negotiate your transaction, I'll not only work to get the optimal sales price, but I'll also advocate for limited closing costs. And once we've reached an agreement, I'll describe in detail the closing costs so you are informed of exactly what you're paying for.
Buyers: When buying a property in Palm Beach County, 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 a suitable range so you're not startled when you reach closing time. I'll be willing to look over the GFE with you, answering your questions and highlighting any estimates in question.