Finding the right home at the right price is just one aspect of a real estate transaction. Gateway to the Hamptons Real Estate is seasoned at helping both buyers and sellers when it comes to closings. E-mail or call us today at 631-325-3449 ior 631-909-8888 if your needs include a real estate pro ready for the business side of real estate.

Expected closing costs

There are certain basic fees linked to closing the sale of a house, both for the buyer and seller, as dictated in the sales contract. Many are universal, but there are nuances to each, so you'll want a real estate expert in New York to help guide you through the deal.

Costs pertaining to your mortgage to be paid at closing    (Click here for more information)

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

At closing, these taxes are usually collected    (Click here for more information)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Click here for more information)

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

Sellers: As we get through the details of your sale, I'll not only work to get the highest sales price, but I'll also advocate for limited closing costs. And once we've come to an agreement, I'll fully explain the closing costs so you are aware of exactly what you're paying for.

Buyers: If you're purchasing a property in Suffolk County, you'll be given a "Good Faith Estimate" (GFE) 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 a suitable range so you're not startled when you arrive at closing time. I'll be happy to go through the GFE with you, answering your questions and highlighting any estimates in question.

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