Closing costs you should expect

There are certain normal costs accompanying closing the sale of a house. These expenses are often split between the buyer and seller, as noted in the sales contract. Many are customary, but there are nuances to each, so you'll want a real estate expert in New Mexico to help guide you through the transaction.

Costs pertaining to your loan to be paid at closing    (More information)

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

At closing, these taxes are usually collected    (More information)

  • Property Taxes
  • Transfer Taxes and Recording Fees

At closing, these fees are often due    (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, I'll not only work to get the optimal sales price, but I'll also advocate for limited closing costs. And once we've come to an agreement, I'll describe in detail the closing costs so you are aware of exactly where your money is going.

Buyers: If you're purchasing real estate in Bernalillo County, you'll receive a "Loan Estimate" (LE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's prior experience and is required to be within an appropriate range so you're not astonished when you show up at the closing table. I'll be glad to review the LE with you, answering your questions and highlighting any estimates that appear to be out of the ordinary.

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