What closing costs should you expect and why?

There are certain expected fees accompanying closing the sale of a house. These fees are commonly divided between the buyer and seller, as directed in the sales contract. Many are conventional, but there are nuances to each, so you’ll want a real estate expert in Pennsylvania to help direct you through your deal.

 

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

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

At closing, the following taxes are usually collected    (Click here for more information)

  • Property Taxes
  • Transfer Taxes and Recording Fees

At closing, these fees are often due    (Click here for 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 sale, We’ll not only work to get the very best sales price, but we will also campaign for lower closing costs. And once we’ve come to an agreement, we’ll fully explain the closing costs so you know exactly where your money is going.

Buyers: If you’re buying real estate in Berks County, you’ll be given a “Good Faith Estimate” (GFE) 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 reach closing time. A member of our team will be glad to look through the GFE with you, answering your questions and highlighting any estimates that are uncertain.

 

Free Closing Cost Estimated on any Property!