What closing costs should you expect?

There are certain typical costs accompanying closing the sale of a house. These costs are commonly divided between the buyer and seller, as spelled out in the sales contract. Many are universal, but there are nuances to each, so you'll want a real estate expert in New Mexico to help guide you through your process.

Closing costs that are tied to financing    (Click here for more information)

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

At closing, these 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 transaction, not only will I work to get the highest sales price, but I'll also advocate for reduced closing costs. And once we've come to an agreement, I'll describe in detail the closing costs so you are aware of exactly where your money is going.

Buyers: When buying a home in Quay County, you'll get a "Loan Estimate" (LE) 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 a suitable range so you're not surprised when you reach the closing table. I'll be willing to look at the LE with you, answering your questions and highlighting any estimates that seem off.

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