| Anticipated Closing Costs There are certain expected costs associated with 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 universal, but there are nuances to each, so you’ll want a real estate expert in Oklahoma to help show you through the deal. Closing costs that are tied to your mortgage: · Points (optional) · Appraisal Fee · Credit Report · Interest Payment · Escrow Account Taxes commonly paid at closing · Property Taxes · Transfer Taxes and Recording Fees At closing, these fees are often due · Homeowners Insurance · Flood or Quake Insurance (optional) · Private Mortgage Insurance (PMI) (optional) · Title Insurance Sellers: As we negotiate your sale, not only will I work to get the optimal sales price, but I’ll also push for reduced closing costs. And once we’ve arrived at an agreement, I’ll describe in detail the closing costs so you are informed of exactly where your money is going. Buyers: If you’re buying real estate in Tulsa County, you’ll 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 past experiences and is required to be within a tolerable range so you’re not stunned when you show up at closing time. I’ll be happy to look through the LE with you, answering your questions and highlighting any estimates that seem unusual. |