Closing Costs

There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract.

As your realtor negotiates the sales contract for you, he/she will not only work to get the sales price you want, he/she will also work to limit the number of closing costs for which you will be responsible. It is always a good practice to include your closing costs in the negotiations with the seller!

I will walk you through the closing costs, answering any questions you may have explaining which costs are decreed by law to be yours and which are negotiable.  Keep in mind that the overall closing costs (pre-paids, etc.) will range from 3% to 6% of the purchase price.  All of this burden does not have to be on the buyer!!!   

Good Faith Estimate

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and MUST include all the closing costs. I will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates I believe to be low. A.C.L. offers several loan programs that are available to include loan-related closing costs, saving the borrower hundreds of dollars in fees.* 

 *Loan programs are subject to qualifying, and loan programs may be subject to higher interest rates.