Episode 31 Let’s Talk Closing Costs
Here’s a summary of today’s program. Just hit the play button!
So most people think that when selling a home, you subtract the real estate commission and mortgage payoff amount from the sale price and that’s what you walk away with.
Closing costs never even enter their mind, especially if it’s someone’s first time selling a home….
Then… once they get to the closing table, they almost have a heart attack when they find out that they have to pay part or most of the closing costs…Not a fun surprise
So you have to be ready…
Typical closing costs on a real estate transaction usually include property taxes, transfer taxes, mortgage taxes, documentary taxes, recording fees, title insurance, …
Market conditions can also affect the way these fees are assigned…
Common closing costs to be paid by the seller and why…
Escrow fees
Title Insurance
Documentary taxes.
Recording fees
Mortgage taxes
Settlement fee.
Real estate broker’s commission
Pest inspection
Recurring closing costs
Things like mortgage interest on their loan, HOA fees, and hazard insurance are all the responsibility of the seller…
If you Still have questions about closing costs in a real estate transaction after listening to today’s episode, call our Broker Jenny Zamora, who’s also a listing specialist at 407.902.7750 she’ll be glad to help you out.
Anyone can submit a question or suggest a topic for the show, just go to our site, fill out the contact form and write a podcast in the subject line and we’ll do our best to talk about it on the show.
