SREG Blog - What are Closing Costs?

Understand These Costs to Help Establish Your Budget!

When buying or selling a home, there’s more to the transaction than just the purchase price. Let’s talk about closing costs.

For Buyers, closing costs typically include loan fees, appraisal fees, escrow fees, title insurance, recording fees, and prepaid property taxes and insurance. Depending on the loan and purchase price, these costs can add up to several thousand dollars.

For sellers, closing costs generally include real estate commissions, escrow and title fees, transfer taxes, and any outstanding property taxes or agreed-upon credits to the buyer.

In California, closing costs vary depending on the property, the purchase price, and the terms of the transaction.

The important thing is to understand these costs before you enter into a transaction.

At Silva Real Estate Group, we believe in making sure our clients know what to expect, so there are no surprises when it comes time to close.

This has been Robert E Silva with Silva Real Estate Group!