We are often asked ‘what are closing costs’ when a buyer is purchasing a home and a seller is selling a home. These typical closing costs vary from market place to market place.
In Albuquerque, for example, customary closing costs for sellers are the title fees, and the buyers’ closing costs are typically anything associated with their loan. The buyer may be asked to pay for the inspections and home warranty if these are desired.
“Expenses (over and above the price of the property) incurred by buyers and sellers in transferring ownership of a property. Closing costs normally include an origination fee, an attorney’s fee, taxes, an amount placed in escrow, and charges for obtaining title insurance and a survey. Closing cost percentages will vary according to the area of the country; lenders or Realtors® often provide estimates of closing costs to prospective homebuyers and sellers.”
In my co-authored book “Get the Best Deal When Selling Your Home, Albuquerque, New Mexico Edition” – I provide a comprehensive list of definitions and guidelines for selling your Albuquerque home.
You can contact me for a free copy anytime!
Linda DeVlieg, Associate Broker
Coldwell Banker Legacy
Albuquerque, New Mexico
505-440-7200
Linda DeVlieg Killman
Let me, an Albuquerque real estate broker, help you find your dream home or sell your current home - with a personalized marketing program set up for your needs and expectations. I want to be your first source for real estate information and I am the number one Internet real estate expert in Albuquerque. Specializing in all Albuquerque neighborhoods and the beautiful area of Chama Valley in Northern New Mexico. Contact me today to get started!
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