Closing costs you should expect

There are certain typical fees accompanying closing the sale of a house. These fees are usually divided between the buyer and seller, as spelled out in the sales contract. Many are customary, but there are nuances to each, so you'll want a real estate expert in Massachusetts to help lead you through the process.

Costs pertaining to your loan to be paid at closing    (Click here for details)

  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

At closing, the following taxes are usually paid    (Click here for details)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Click here for details)

  • Homeowners Insurance
  • Flood or Quake Insurance (optional)
  • Private Mortgage Insurance (PMI) (optional)
  • Title Insurance

Sellers: As we get through the details of your sale, not only will I work to get the optimal sales price, but I'll also campaign for lower closing costs. And once we've come to an agreement, I'll describe in detail the closing costs so you know exactly where your money is going.

Buyers: If you're buying a home in Norfolk County, you will get a "Loan Estimate" (LE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's previous experience and is required to be within an acceptable range so you're not shocked when you arrive at the closing table. I'll be glad to go over the LE with you, answering your questions and highlighting any estimates that appear to be out of the ordinary.

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Louis Wolfson & Co.

29 Cimino Road
Needham, MA 02494