Closing Costs
Ron Sam
Closing costsamount to approximately 11% of the total sales price of a home, according to the California Land Title Association. These charges usually include a real estate commission, loan fee, escrow charge, title insurance premium, pest and other inspections, and costs for other services provided during the closing process. Below is a list and definition of common closing costs.
SALES/BROKER'S COMMISSION The commission is typically a percentage of the selling price of the home and usually paid by the seller.
Often two realtors, the buyer's agent and the seller's agent, and their respective brokerage companies split the commission.
LOAN FEES These are fees that the lender(s) charges to process, approve and make the mortgage loan...
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