Average Closing Costs

By
Real Estate Agent with Success Realty 3157173

 

Average Closing Costs

 

In the purchase of any real estate transaction hearing the words “You are clear to Close” means you are one step away from being a proud home owner. It is important to be aware of the average closing costs & fees you will find and what the buyer and seller are responsible for or you may be taken by surprise.

Closing Costs

What these charges look like

This will depend greatly on the type of home you are purchasing and the state in which you live. Here in Broward County, Florida these are what you may except to pay at closing.

Closing Costs

-LOAN ORIGINATION FEE

Lenders charge a processing fee for putting your loan together.

-SURVEY FEES

This covers the cost of verifying the homes property lines.

-TITLE INSURANCE

This protects the Lender in the event that the title is not clear.

-TITLE SEARCH FEES

Which is a background check on the title to make sure there are not things such as unpaid mortgages or tax liens on the home.

-ESCROW DEPOSIT

The lender will require that a couple months worth of property taxes and private mortgage insurance be held in an escrow deposit

-RECORDING FEE

This is pay paid to the city or county in exchange for recording the new land records.

-UNDERWRITING FEE

This covers the cost of evaluating a mortgage loan application. If your a Seller be prepared to see a long column on your HUD 1

– SETTLEMENT STATEMENT

Seller’s can expect to pay anywhere between 6-10% of the sells price of your home.

– LOAN PAYOFF

This amount will usually be higher than the remaining balance because of pro-rated interest on the loan.

PROPERTY TAXES & HOA DUES

These amounts will be pro-rated up to the day of closing.

Considering buying or selling?

Call us today to speak to one of our experienced agents at searchbroward.com (954) 580-6715

Posted by

We will be glad to assist you in selling your home, renting your home or determining your homes value and assist you in locating a home. We at searchbroward.com are geared to provide real estate service with the goal in mind of keeping your home process simple, professional, and personal. We will help you find a home and apartments for sale and for rent in Broward County Florida.

Call or Text us Today at 954-303-3032!

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Tags:
selling
buying
closings
broward real estate

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
78,584

www.searchbroward.com Real Estate

Buy-Sell-Rent
Call or Text us NOW!
*
*
*
*
Spam prevention

Additional Information