Closing costs you should expect

There are certain typical fees related to closing the sale of a house. These expenses are commonly divided 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 New Mexico to help lead you through the transaction.

Loan-related closing costs    (Click here for more information)

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

Taxes you may be responsible for 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 hammer out your deal, I'll not only work to get the highest sales price, but I'll also advocate for lower closing costs. And once we've arrived at an agreement, I'll fully clarify the closing costs so you are informed of exactly what you're paying for.

Buyers: If you are purchasing a property 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 stunned when you come to closing time. I'll be glad to go through the LE with you, answering your questions and highlighting any estimates that seem off.

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