Princeton Town Topics – Let’s Talk Real Estate – February 6, 2019
CLOSING COSTS RESPONSIBILITIES
Buyers and Sellers need to take into consideration closing costs on both sides of a Real Estate Transaction, which run between 2-5% of the purchase price of a home.
| Buyers are responsible for: |
| · Attorney Fees |
| · Title and escrow fees |
| · Inspection Costs |
| · Lender Fees |
| · Homeowners Insurance |
| Sellers are responsible for: |
| · Attorney Fees |
| · Commission |
| · Paying off existing loans |
| · Property Taxes & HOA fees |
| · Repairs from Buyer’s Inspections |
Prior to closing, both Buyers and Sellers will get a chance to review the settlement statement and compare the final figures with their good faith estimate and anticipated closing costs.
