What does buyer pay for at closing?
Most buyers know that they do not pay for any realtor fees during a home transaction but exactly what does a buyer pay for at closing?
Most obviously, the house! Ok, Ok, we aren’t here to talk about the obvious but this is a common question among our buyers, what exactly does the buyer pay for at closing and how much does that add to the sales price.
As previously stated, a seller pays for the realtor’s fees which works advantageously for the buyer. A buyer can reap the rewards of having an expert help them navigate their specific needs and find homes that may not be available to the public. Being represented by a real estate agent allows the buyer to have someone negotiate on their behalf, help them navigate the waters and deal directly with the listing agent to get the best price, as well as offer resources on what inspectors to use to thoroughly go through the future home in order to not miss any detail
Closing Costs
Closing costs can vary based on the type of property purchased and the neighborhood in which it’s located as well as making changes directly to the terms of the contract. In a typical sale in Collier County using a standard NABOR sales contract, the Buyer pays the following expenses:
*title insurance;
*survey;
*appraisal;
*transfer fees and/or capital contribution fees as required by the association;
*attorney fees;
*title search;
*recording the deed;
*State documentary stamps (ONLY if the property will have financing) $0.35 per $100.00 of the sales price; and other fees and/or costs as determined by the location or type of property purchased.
For a complete list of potential expenses or to estimate for the specific home you are looking to buy, please contact us at ann@myluxuryexpert.com and we will be happy to send you a Real Property Closing Cost Disclosure for your convenience.