Closing Costs - Buyers
Closing costs are the costs associated with buying a home or condo that are in addition to the down payment. Closing costs are going to vary from deal to deal depending on the terms and structure of the contract. Common closing costs you can expect are:
- Transfer and recordation charges
- Lender fees (credit reports, application fees, etc.)
- Property inspection costs
- Prorations (property taxes, condo fees, etc.)
- Title charges (title exam, document prep, etc.)
- Escrow account set-up
- Title insurance
Closing costs for properties that are financed typically range from 3% to 4% of the purchase price. These percentages will be lower for higher price points and cash purchases.
We would be glad to have a closing cost estimate prepared for you based on the specific type of properties you are interested in. If you have other questions or want to discuss this in greater detail feel free to contact us anytime at 443-552-7579.