Whether you are the buyer or seller, there are closing costs that need to be paid at closing and knowing these fees up front and what to expect will help you be prepared and not have any last-minute surprises. Fees will vary between lenders, loan type and terms, and title companies. If you need to refer back to these estimates, you can find them on my website Homes2SellAZ.com under the blog tab.
FOR THE SELLER
The two Sellers Closing Costs Estimates below are based on fees from Security Title. Remember, fees will vary between title companies, but this gives you an idea of what fees to expect when selling a home in Mesa (taxes will vary by city).
This is before any payoff of your current mortgage(s).
• These estimates are based on:
• Sales price of $400,000 and $800,000
• Close of escrow date of November 15
• Seller paying the Home Warranty
• Standard realtor commissions of six percent, split three percent for listing agent and three percent for selling agent.
Your realtor can provide you with a closing cost estimate at any time. When I meet with my sellers, I will run the closing cost estimate as soon as we decide on a listing price for the home so they can see what they will net, and with my buyers how much additional costs they are going to have to pay at closing. It’s a great tool for both the buyer and seller to understand how much they have to pay or how much they will receive at closing
FOR THE BUYER
The two Buyers Closing Cost Estimates below are based on fees from Security Title. The biggest difference in fees will be the lender fees. Some may not have many fees at closing as they bundle them into the loan, others may be a lot higher or lower. One lender may not have an origination fee, and another may charge $4,000, so it’s very important for the buyer to understand what fees the lender will charge and how that may affect the mortgage rate.
These estimates give you an idea of what fees may be charged and what to expect when buying a home in Mesa (taxes will vary by city).
• These estimates are based on:
• Purchase price of $400,000 and $800,000
• Close of escrow date of November 15
• Conventional loan at 3.5 percent, 30-year term
• 20 percent down payment
These estimates do not include the appraisal, inspection, and termite fees, which are usually paid up-front. If you are thinking of buying or selling a home and would like me to run an Estimate Closing Cost Sheet for you to see what your bottom number will be or have any questions on fees and the closing process, please don’t hesitate to contact me.
Call me any time, and I will be happy to answer all your real estate questions. Please contact me at Lorraine@Homes2SellAZ.com, or call (602) 571-6799. Visit my website at Homes2SellAZ.com.