09/29/2022
"How much do I really need to save for closing costs?" The first thing to know is that it depends on whether you're the buyer or the seller. Because, the closing costs associated with each, are quite a bit different. Take a look at the closing costs that you can expect, both as a buyer and a seller.
BUYER
• appraisal fee
• application fee
• loan origination fee
• title insurance policy
• for the lender
• Inspection fee
• prepaid interest
• homeowners insurance
• prorated property taxes
• tax servicing fee
• credit report fee
• bank processing fee
• recording fee
• notary fee
• loan discount points
SELLER
• agent commission
• transfer tax
• title insurance
• escrow and closing fees
• prorated property taxes
• HOA fees
• credits toward closing costs
• attorney's fees