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CLOSING COSTS – What does that mean really?

Understanding Buyer Closing Costs

Most people who are in the market for a new home are unaware of the costs associated with purchasing a home and moving.  Closing costs can be expenses that may be overlooked, especially for first-time home buyers. The amount of the closing costs will depend on where you live, the type of home you are purchasing, and the type of mortgage you are going to carry.  In most cases they can equal anywhere from 2% – 4% of the purchase price of your home.  So, before planning your home purchase budget, here are some hidden expenses that you may want to include.


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In general there are two types of closing costs: recurring and non-recurring.  Recurring costs include things like fire and flood insurance, property taxes, mortgage insurance and HOA fees associated with the property.  These are expenses that will have to become part of your monthly budget and in most cases, are often anticipated by new home buyers.  Non-recurring costs are one-time costs that are associated with closing a home purchase and in most cases make up the bulk of extra expenses.  Non-recurring closing costs typically include:

  • Title Policies
  • Escrow Wire
  • Fees Delivery
  • Attorney Fees
  • Endorsements
  • Recording
  • Transfer Taxes
  • Home Protection Plans
  • Natural Hazard Disclosures
  • Lender Fees

Depending on your particular circumstances, the actually closing fees may include just a few of these costs, or even include ones that are not listed here.  Purchasing a home startup-photos (Medium) is a huge investment and expense, and getting a clear picture of the cost before signing your name on the dotted line is important.  Your agent can usually give you a detailed list of these expenses.







So if you think it’s your time to get out there and start looking for your next dream home and need some guidance on closing costs, you know where to find us!  When you’re ready to start viewing properties, we’re just a click away…  WWW.HARDIEGROUP.COMinnerpage-logo


If you or someone you know is in the market for buying, selling or investing in a home please visit to use our state of the art home search.

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