Closing costs are additional fees associated with the purchase of a home. These costs are paid at the end of a real estate transaction, at the time when the title is transferred from the seller to you. It is important to factor these costs into your home budget, as it will help you ensure you have the amount you need to purchase the property you are after.
Closing costs will vary depending on where you live, the property, and the type of loan you take out for the transaction. Generally, a closing cost will be around 2-5 percent of the home’s purchase price. If you purchase a house that costs, $150,000, you may pay anywhere from $3,000 to $7,500 in closing costs.
You should receive a closing disclosure statement from your lender approximately three business days before closing. This statement will outline all of the closing fees associated with your transaction. Some of these fees can be negotiable, and others may be entirely unnecessary charges added on. You may be able to find another lender who can provide lower closing fees than the one you are currently using.
If you need assistance with Florida real estate closing costs, our team at Baron Bartlett, P.A. is here to help. Our attorneys will help you ensure your real estate transaction is completed smoothly and according to your budget. Give us a call today at (904) 285-9993 to get started.