What closing costs should you expect?

There are certain typical expenses associated with closing the sale of a house. These costs are usually divided between the buyer and seller, as dictated in the sales contract. Many are conventional, but there are nuances to each, so you'll want a real estate expert in Maryland to help guide you through your transaction.

Loan-related closing costs    (Click here for details)

  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

At closing, the following taxes are usually paid    (Click here for details)

  • Property Taxes
  • Transfer Taxes and Recording Fees

At closing, these fees are often due    (Click here for details)

  • Homeowners Insurance
  • Flood or Quake Insurance (optional)
  • Private Mortgage Insurance (PMI) (optional)
  • Title Insurance

Sellers: As we hammer out your deal, I'll not only work to get the very best sales price, but I'll also push for reduced closing costs. And once we've arrived at an agreement, I'll describe in detail the closing costs so you are aware of exactly where your money is going.

Buyers: If you are buying a house in Anne Arundel County, you will be given a "Loan Estimate" (LE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's prior experience and is required to be within a suitable range so you're not stunned when you come to closing time. I'll be glad to review the LE with you, answering your questions and highlighting any estimates that are uncertain.

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