What closing costs should you expect?

There are certain expected fees accompanying closing the sale of a house. These costs are usually split between the buyer and seller, as directed in the sales contract. Many are universal, but there are nuances to each, so you'll want a real estate expert in New Mexico to help show you through your transaction.

Loan-related closing costs    (Click here for details)

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

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

  • Property Taxes
  • Transfer Taxes and Recording Fees

At closing, these fees are often due    (Click here for details)

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

Sellers: As we negotiate your transaction, I'll not only work to get the optimal sales price, but I'll also push for limited closing costs. And once we've come to an agreement, I'll explain in detail the closing costs so you are informed of exactly where your money is going.

Buyers: If you are buying real estate in Bernalillo 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 past experiences and is required to be within a reasonable range so you're not astonished when you get to the closing table. I'll be willing to go through the LE with you, answering your questions and highlighting any estimates that appear to be out of the ordinary.

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