What are closing costs and who pays for them? Hi everyone, I am Fawn Bertram with Homes by Fawn and Hawaii Life. Have you ever thought about how much it’s going to cost you at closing? Or you may have never given it a second thought and are completely surprised when closing comes. The first thought that comes to mind…..how am I going to pay these thousands of dollars at closing?!?
What are closing costs? They are the various fees that buyers and sellers pay at closing.
These fees can include but are not limited to:
- Escrow fees
- Title fees
- Loan origination fees
- Commission fees
- Transfer tax
- Prepaid homeowners fees
And they are typically somewhere around 2.5% of the purchase price.
So whether you are looking to buy or sell don’t be surprised last minute that these fees will come up and they need to be paid at closing. Don’t worry though, great Lenders and Realtors will make sure that you are fully prepared ahead of time and that you know your numbers!
If you would like a more detailed list of the typical fees and how much each one of these are, please reach out any time, I am happy to help! Please call or text me, 808-439-1077 – Fawn Bertram with Homes by Fawn and Hawaii Life. Please comment, LIKE and SHARE with anyone you know that might be looking to BUY or SELL in Oahu! As always, make it a great home buying and selling day!