With all the excitement that comes from purchasing or selling your home, it can be easy to forget about all the additional fees that are added to your final cost. These closing costs are an assortment of fees that are associated with your home purchase and paid at the closing of the transaction or when the title of the property is transferred. They include the title search, home inspection, appraisal, credit report, attorney fees, and more. While both the buyer and seller have to pay closing costs, the amount and type tend to be a little different. Take a look from both perspectives, so you’re not surprised the next time you purchase or sell your home.
Buying a house for the first time can be a process full of unknowns, and one of the biggest mysteries is: What are closing costs?
You picked the perfect neighborhood. You spent a month of weekends attending open houses and being guided by your intrepid realtor.
And you’ve found the perfect home!
After a first-time home buyer takes a moment to enjoy the relief of finding their dream home, there’s still a lot more work to do. An experienced realtor will be able to guide you through much of the process to come, but an informed buyer is a happy buyer, especially when you make a purchase that can affect every other part of your life.
Your search is over and you’ve found a home you love. Congratulations! It’s time to close on the house you have decided on. The closing process can be intimidating, but we broke it down into 3 simple steps that will make you feel much more comfortable during the entire process.