Closing costs you should expect

There are certain expected fees associated with closing the sale of a house. These fees are commonly split between the buyer and seller, as instructed in the sales contract. Many are conventional, but there are nuances to each, so you'll want a real estate expert in Oklahoma to help direct you through the deal.

Costs pertaining to your mortgage to be paid at closing    (Click here for more information)

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

Taxes commonly paid 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 get through the details of your deal, not only will I work to get the highest sales price, but I'll also push for limited closing costs. And once we've arrived at an agreement, I'll walk you through the closing costs so you know exactly where your money is going.

Buyers: If you're purchasing a home in Oklahoma City, you'll receive a "Loan Estimate" (LE) of closing costs within three days of submitting your loan application and a "Closing Disclosure" no fewer than three days prior to closing. These estimates are based on the loan officer's previous experience and are required to be within an acceptable range so you're not shocked when you arrive at closing time. I'll be willing to go over the estimate with you, answering your questions and highlighting any estimates of concern.

Don't forget to factor in closing costs when considering a home sale or purchase. Niki Higgins is seasoned at aiding both buyers and sellers when it comes to closings. E-mail or call me today at 405-919-1098 if your needs include a real estate pro ready for the business side of buying and selling.

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