Closing costs you should expect

There are certain ordinary expenses related to closing the sale of a house. These expenses are commonly split between the buyer and seller, as dictated 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 lead you through the deal.

Closing costs that are tied to your mortgage    (Click here for details)

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

At closing, these taxes are usually paid    (Click here for details)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Click here for details)

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

Sellers: As we get through the details of your deal, not only will I work to get the very best sales price, but I'll also campaign for limited closing costs. And once we've reached an agreement, I'll give a detailed list of the closing costs so you are aware of exactly what you're paying for.

Buyers: When buying a property in Bernalillo County, you will 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 suitable range so you're not stunned when you reach the closing appointment. I'll be happy to look at the LE with you, answering your questions and highlighting any estimates that are uncertain.

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