There are certain basic fees associated with closing the sale of a house. These costs are often split between the buyer and seller, as directed in the sales contract. Many are conventional, but there are nuances to each, so you'll want a real estate expert in Arizona to help direct you through the process.
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
At closing, these taxes are usually collected (More information)
- Property Taxes
- Transfer Taxes and Recording Fees
At closing, these fees are often due (More information)
- Homeowners Insurance
- Flood or Quake Insurance (optional)
- Private Mortgage Insurance (PMI) (optional)
- Title Insurance
Sellers: As we get through the details of your deal, not only will I work to get the highest sales price, but I'll also push for reduced closing costs. And once we've come to an agreement, I'll give a detailed list of the closing costs so you know exactly what you're paying for.
Buyers: If you're buying real estate in Maricopa County, you'll get a "Good Faith Estimate" (GFE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's prior experience and is required to be within a tolerable range so you're not surprised when you show up at the closing table. I'll be willing to look at the GFE with you, answering your questions and highlighting any estimates that seem off.