Closing costs are the fees and expenses required to finalize a real estate transaction, typically ranging from 2% to 5% of the home’s purchase price. Whether you’re buying or selling, understanding these costs helps you budget properly and avoid surprises at the closing table.

 For Buyers:
 Loan Origination Fees – Lender fees for processing your mortgage (0.5% – 1% of loan amount).
 Appraisal & Home Inspection – Ensures the home’s value and condition ($300 – $600 per service).
 Title Search & Title Insurance – Protects against ownership disputes ($500 – $1,500).
 Escrow & Attorney Fees – Covers document preparation and fund handling ($500 – $2,000).
 Prepaid Property Taxes & Homeowners Insurance – Usually 6 months to 1 year of coverage upfront.
 Recording Fees & Transfer Taxes – Government fees are used to legally transfer property ownership (Varies by location).
 HOA Fees (if applicable) – Homeowners Association dues or transfer fees ($200 – $1,000+).

 For Sellers:
 Agent Commission – Typically 5% – 6% of the sale price (split between buyer & seller agents).
 Title & Escrow Fees – Covers title transfer & closing administration.
 Prorated Property Taxes & HOA Dues – Seller covers taxes and fees up to the closing date.
 Outstanding Mortgage Payoff – Any remaining loan balance must be paid off at closing.

Yes! Buyers can negotiate with lenders for discounted origination fees, ask sellers to cover some costs, or apply for closing cost assistance programs. Sellers may also negotiate certain fees, depending on market conditions.

 Need a personalized estimate? Let M.J. Torres Realty help you navigate closing costs with confidence.

 

Contact us today! 

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