About Closing Cost
All 3rd party fees to be paid before closing includes real estate, loan, and misc. fees.
Agent commission is normally paid by the Seller.
Always ask your agent or escrow office upfront and write down the numbers to avoid payment shock or short-of-funds
Closing cost is negotiable between seller and buyer and might variable case from case
Generally, we will follow common sense, local custom rules, and mutual agreement to allocate closing costs.
Who paid what?
Wonder who paid what part of the Closing Cost in your target county, check here!
What’s covered by no point no fee?
How to get a closing cost estimation?
Ask your real estate agent what can be potential closing costs like inspection reports fee and repair fee etc.
Once start escrow, ask the title or escrow company for a free fee estimation for all title, escrow, city, and county-related costs.
Before applying for a loan, ask for a good faith estimate from the mortgage broker for loan-related costs.
Before signing the final papers, ask for an estimated HUD1 (also called estimate settlement statement) from the title/escrow company which will list all estimated closing costs.
Ask your real estate and mortgage broker to help you review.
After closing, check and verify the final HUD1 (also called the final settlement statement) sent by the escrow company which will list all your actual costs including prorated interest, tax and insurance.
What's the difference between the basic policy and the homeowner title policy?
Common Fees in a Typical settlements
The cost of buying a property goes beyond simply by paying the price negotiated between the buyer and seller.
• Document preparation Fee
• Notary fees
• Escrow Fee (based on Purchase Price)
• Courier Fees
• Loan-Tie-In Fee
• Electronic Document Delivery Fee
• Owner’s Title Insurance Policy Coverage
• Lender’s Title Insurance Policy Coverage
• Loan Origination Fee
• Loan Discount Points (optional)
• Appraisal Fee
• Credit Report Fee
• Interest Payment
• Underwriting Fee
• Fee to record the deed, mortgage and any
• County and possible city transfer taxes
(see reference chart attached)
• Homeowner’s Insurance premium for the year • Mortgage Insurance (if any) - the number of months varies
• Property Taxes - usually 2 months in advance
• HOA Documents, Termite Inspection, Home Inspection, Land surveys, Flood certification, Lead-paint Inspection , Roof Inspection, etc. please check with your real estate agent in regards to these fees.