What closing costs should you expect?

There are certain typical costs related to closing the sale of a house. These fees are commonly divided 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 New Mexico to help show you through your process.

Costs pertaining to your mortgage to be paid at closing    (Learn more)

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

At closing, these taxes are usually paid    (Learn more)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Learn more)

  • 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 highest sales price, but I'll also campaign for reduced closing costs. And once we've arrived at an agreement, I'll fully explain the closing costs so you are informed of exactly where your money is going.

Buyers: If you are buying a property 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 a tolerable range so you're not astonished when you come to the closing appointment. I'll be glad to review the LE with you, answering your questions and highlighting any estimates that seem unusual.

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