Coldwell Banker Residential Brokerage - Northborough Regional Office
Jeri Baily, Coldwell Banker Residential Brokerage - Northborough Regional OfficePhone: (508) 259-9848
Email: [email protected]

Be Prepared for Closing Costs

by Jeri Baily 06/21/2020

Image by Ryan R Fox from Shutterstock

It can be a stressful endeavor to purchase a home. As one of the most significant investments in life, it is important to understand the steps and fees you may encounter beyond the sale price. When you are searching for a property, keep the expense of closing in mind.

What Are Closing Costs? 

Closing costs are the various expenses and fees that are separate from the purchase price of your house. They apply to the end of the process. Charges include taxes, inspection, title insurance, and title search, as well as some upfront expenses such as homeowner’s insurance.

Closing costs generally range from two to five percent of the purchase price. The final fee is dependent on your location. Most of the expenses are for state and local government, lenders, and legal processing. You can save on some of these by working with a mortgage broker who is experienced and knowledgable about local laws.

What Should You Expect? 

  • Appraisal: This fee goes towards making sure that the price of the home matches the actual worth of the property.

  • Escrow payment: When it comes to timely preparation of the documents, you can trust a good escrow company to take care of the paperwork on your behalf. Prompt preparation of your papers can make a significant difference as it can enable you to close on time.

  • Title/attorney fee: The title and attorney fees are put in place to ensure the transfer of the home's deed occurs without issue. To ensure that it all goes smoothly, work with a highly reputable title company. 

  • Lender fees: The lender fees may include a wide range of items like transfer fees or administrative fees. A broker commission may be part of the cost.

Other fees could include loan interest and loan insurance. Your realtor can help you to save money during your closing and prepare you for the process, work closely with them to determine the fees that may be negotiable.

About the Author
Author

Jeri Baily

Vast experience in Central & Eastern MA who will be your Professional Guide through the Buying and Selling process  

Business Philosophy 

I work tirelessly with both Buyers and Sellers to help them achieve their dream.

Experienced representative in all phases of residential real estate

-Integrity

-Knowledge

-Commitment

-Enthusiasm

-Attention to Detail

Education and Training 

Bachelor of Arts, double major in Child Development and Psychology

Master of Education in Counseling- This education is a major help in my Real Estate Business. I combine my Real Estate skills with counseling knowledge to very effectively working with a diverse population.

Completed GRI- multiple modules of Real Estate Education to achieve a higher level of effectiveness with buyers and sellers

Earned CBR designation- gives a higher level of expertise with Buyer in all facets of Buyer Agency

Top Producer-multiple recent years  

Top Producer Honoree

Inducted into National Franchise Certificate Club for Top Sales in New England

Highly Experienced Buyer and Seller Agent