Closing Costs - Typical Buyer Expenses

In addition to your down payment, you will need cash for various fees associated with the purchase. They are known as closing costs and are paid by both buyers and sellers. Some fees you pay upfront, when you apply for a mortgage. That includes money for a credit report and an appraisal on the property. Most of the remaining fees can be paid at closing. They include, but are not limited to-

• Title Insurance Fees
• Attorney Fees, if buyer retains an attorney
• Any Points or loan fees charged by the lender
• Doc Stamps on the mortgage
• Prepaid property tax reserves
• Prepaid homeowners insurance premiums
• Home inspection fees
• Pest & Termite Inspection Fees
• Well Water and/or Septic System inspection fees
  Survey
• Payoff Existing Mortgages, Home Equity Loans
• Recording Fee- Satisfaction of Mortgage
• Taxes Prorated up to the date of closing
• Condo, Homeowners association fees, if applicable
• Courier & Wire Transfer Fees, if applicable
• Real Estate Commission Attorney Fees, if seller uses an attorney