What are closing costs?

Closing costs are fees charge by lenders, title companies and sometimes real estate brokers or lawyers in order to make a real estate transaction happen. Those costs include fees such as title insurance, recording fees, pre-paid taxes, excise taxes, down payment and hazard insurance, among many others.

Who pays for what and how much?

Who pays for what and how much more than likely will depend on the location or the market, fees will vary by state, county, city and the side of the transaction you will be. 

Cowlitz County real estate buyers typically are expected to pay the following closing cost:

•·         Down payment

•·         Mortgage fees

•·         Escrow closing fees

•·         Home inspections

•·         Appraisal

•·         Home owner's insurance

•·         Property taxes

•·         Settlement fees

•·         Credit report fee

•·         Private mortgage insurance (in some cases)

Cowlitz County real estate sellers typically are expected to pay the following closing cost:

•·         Loan payoff fees

•·         Title policy insurance

•·         Excise taxes

•·         Escrow closing fees

•·         Documents preparation fees

•·         Recoding fees

•·         Real Estate commission (in some cases)

•·         Pest inspection fee (in some cases)

Your local real estate agent or mortgage consultant will be able to calculate and let you know an approximate amount and what fees you will responsible for when buying or selling.

Venancio Gonzalez - GRI, E-PRO Realtor® with Windermere Real Estate Allen & Associates serving the Cowlitz County real estate market. gonzalezq@windermere.com or (360) 751 4001.