Closing Costs

Closing Costs in The Chico, California

Closing costs are the various fees and charges a home buyer and seller are expected to pay when finalizing a real estate transaction. These expenses vary depending on the regulations in a particular area. You'll want to familiarize yourself with these costs, especially if you plan to buy a home in Chico.

Check out our original neighborhood page at https://www.chicohousehunter.com/.

Closing Cost Breakdown

Buyer's Closing Costs

• Origination Charges and Points
• Credit Report Fee
• Appraisals
• Title Insurance Premiums
• Government Charges to Record the Loan
• State and Local Transfer Taxes in Chico, California
• Hazard Insurance
• Initial Escrow Balances for Property Taxes and Insurance Paid at Closing

Seller's Closing Costs

• Listing Agent Commission
• For Sale by Owner (FSBO) Fees
• Buyer’s Agent Commission
• Escrow Fees
• Title Search Fees
• Mortgage Balance Payoff
• Closing Cost Concessions
• City or County Transfer Fees
• Miscellaneous Seller Closing Costs in California
• Notary Fees
• Homeowners Association (HOA) Transfer Fee
• Cost of Home Warranty
• Termite Inspection Fee
• Natural Hazard Disclosure Report
• Lien Release Document Fee

Check out our original neighborhood page at https://www.chicohousehunter.com/.

Top Tips to Reduce Closing Costs

1. Get a Rebate from your Broker

Getting a discount from your broker is a good way to save money in your closing costs. There are many rebates a brokerage can offer to their client - you'll want to ask around what they have available. A common refund is if you visit properties on your own without a realtor, you can avail for the discount a company would typically give as commission to a realtor accompanying you when visiting a listing.

2. Research the many Fees Associated with your Closing Costs

You'll want to make sure you are familiar with the necessary closing costs associated with real estate transactions. Lenders typically have different terms for these costs and knowing which ones you could have removed will be essential steps to get a good deal.

3. Get Quotes from Multiple Lenders

The more lenders you talk to, the better deal you will most likely get. The market can be quite competitive, and if a lender is aware you are inquiring with their competitors, they will probably give you a better offer to close the deal.

4. Consider Buying a Resale Home

A brand new property usually have a higher purchase price and higher closing costs. Shopping around for a resale home is a good way to not only save in your closing cost but the total amount you have to pay to get a new home.

Check out our original neighborhood page at https://www.chicohousehunter.com/.