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Here's a riddle for you....
 
 
Q: How can a home buyer go through the entire home-purchase process: make a satisfactory offer; have a satisfactory inspection; receive a motgage committment and attend a closing, but not wind up with a home?
 
A: By not knowing that there are closing costs that are due... at the closing.
 
To prevent all of the work and none of the payoff, as well as having a furious client, it is so important to tell your clients what to expect from the process... beginning to end...
 
The following is a list of cost that I found on an attorney's web site of what to expect at closing:
 
Attorney fee.. $700.00
Title Search and Review.. $150.00
Courier Fee.. $ 36.00
Recording Fee.. $190.00
Title Insurance(Owner Policy).. $1050.00
Homeowners Insurance (Unless Condo).. $900.00
Year must be paid ahead and in full
Town or City Taxes.. $2625.00
If taxes are due within 60 days of closing
Apportionment-Oil or Propane.. $380.00
If there is oil or propane at the residence
Apportionment-Taxes.. $0.00
Take Yearly Taxes and divide by 365, then Multiply by number of days till taxes are due.  For example; Closing is 12/1/2010 and taxes are $5,250.00. $5,250/365= $14.38 ... more

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