Closing costs you should expect

There are certain basic costs linked to closing the sale of a house. These costs are often 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 Maine to help show you through your deal.

Closing costs that are loan-related    (Click here for more information)

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

Taxes you may be responsible for at closing    (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 negotiate your deal, I'll not only work to get the optimal sales price, but I'll also push for reduced closing costs. And once we've reached an agreement, I'll explain in detail the closing costs so you are informed of exactly what you're paying for.

Buyers: If you are purchasing a house in Kennebec County, you will receive a "Loan Estimate" (LE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's previous experience and is required to be within an appropriate range so you're not astonished when you arrive at the closing table. I'll be glad to go through the LE with you, answering your questions and highlighting any estimates that seem unusual.

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