Closing costs you should expect

There are certain normal fees linked to closing the sale of a house. These fees are often divided between the buyer and seller, as spelled out in the sales contract. Many are conventional, but there are nuances to each, so you'll want a real estate expert in New Mexico to help lead 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

At closing, the following taxes are usually collected    (Click here for more information)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Click here for more information)

  • Homeowners Insurance
  • Flood or Quake Insurance (optional)
  • Private Mortgage Insurance (PMI) (optional)
  • Title Insurance

Sellers: As we negotiate your transaction, I'll not only work to get the optimal sales price, but I'll also advocate for limited closing costs. And once we've reached an agreement, I'll give a detailed list of the closing costs so you know exactly what you're paying for.

Buyers: When buying a property in Quay 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 prior experience and is required to be within a reasonable range so you're not astonished when you reach the closing appointment. I'll be willing to look at the LE with you, answering your questions and highlighting any estimates that are uncertain.

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