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Category: Blog

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Closing Cost? What are they & who pays them?

by jnob

I KNOW you want to know what are closing costs 💰 and who pays them? 🤷♂
Often times people are preparing to purchase a home🏡 and they are not prepared. They are completely surprised that they didn’t budget for potentially thousands of dollarsworth of closing costs.
So what are closing costs? 🤷‍♀️They are the various fees that buyer and seller pay at closing. 💰These fees can include but are not limited to, escrow fees, loan origination fees, title insurance, transfer taxes, and pre-paid homeowners insurance. THE GAMUT!
Typically somewhere around 2.5% of the sales price of the home.👍So whether you’re looking to buy or sell a home, 🏡don’t be surprised last minute that these fees will have to be paid at the closing of your transaction.
Don’t worry though, a Great REALTOR like MYSELF 😎 will make sure you are fully prepared & are ahead of the game!
If you’d like a detailed list 📝 of the typical fees and how much each one of them are, please reach out anytime. 😊