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Buyer's Closing Costs


HIGHTOWER REALTY
Denis Le Marchant-Smith
407-922-3080


The lender must disclose a good faith estimate of all settlement costs. A check to cover your closing costs will probably have to be a cashier’s check. The title company will tell you the required amount for whichever of the following apply:

  • Downpayment.
  • Loan origination fees.
  • Points, or loan discount fees.
  • Appraisal fee.
  • Credit report fee.
  • Private mortgage insurance premium.
  • Escrow for homeowners insurance.
  • Property tax escrow.
  • Deed recording fees.
  • Title insurance policy premiums.
  • Survey.
  • Inspection fees for a home inspection.
  • Notary fees.
  • Prorations for property taxes, rents, etc.


Prorations

Because such costs are usually paid on either a monthly or yearly basis, you might have to pay a bill for services used by the sellers before they moved. Proration is a way for the sellers to pay you back or for you to pay them for bills they may have paid in advance.

Mortgage Escrow

Lenders may keep funds for property taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you. You may be required to pay several months of these payments in advance at closing.

More about general closing costs

More about financing-related closing costs