Closing costs you should expect

There are certain basic fees associated with closing the sale of a house. These expenses are often split between the buyer and seller, as spelled out in the sales contract. Many are customary, but there are nuances to each, so you'll want a real estate expert in Massachusetts to help lead you through your process.

Closing costs that are loan-related    (Click here for more information)

  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

Taxes you may be responsible for at closing    (Click here for more information)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Click here for more information)

  • Homeowners Insurance
  • Flood or Quake Insurance (optional)
  • Private Mortgage Insurance (PMI) (optional)
  • Title Insurance

Sellers: As we hammer out your transaction, I'll not only work to get the highest sales price, but I'll also push for limited closing costs. And once we've come to an agreement, I'll fully explain the closing costs so you are informed of exactly what you're paying for.

Buyers: If you are purchasing a home in Norfolk County, you'll get a "Loan Estimate" (LE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's previous experience and is required to be within a tolerable range so you're not astonished when you reach the closing appointment. I'll be glad to look through the LE with you, answering your questions and highlighting any estimates that seem questionable.

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Louis Wolfson & Co.

29 Cimino Road
Needham, MA 02494