SERVICES & FEES
Although many of the costs are associated with financing, others are independent of the mortgage loan. Some charges are normally associated with either the buyer or the seller, but anything is negotiable.
In a buyer’s market, when properties are slow to sell, anxious sellers frequently agree to pay part of the buyer’s closing costs. This is less likely to happen in a seller’s market, when properties sell quickly.
ASSOCIATED COSTS
Costs associated with selling or purchasing a home
· Settlement/Closing Fee
· Title Insurance
· Documentary Stamps on Warranty Deed
· Search/Exam Fee
Customary Buyer/Borrower Fees:
· Settlement/Closing Fee
· Lender Title Policy & Endorsements
· Documentary Stamps on Mortgage
· Intangible Tax on Mortgage
Other fees that may be incurred in financing the home
· Appraisal
· Home Inspection
· Home Owners Insurance
· Termite Inspection
· Survey
· Credit Report
Buyer/Seller may also incur HOA fees