Closing expenses are costs associated with buying your home above and beyond the price of the home itself. These are typically paid for at closing and need to be accounted for in addition to the downpayment you make. Typical home buyer expenses include:
Home Inspections- Survey
- Yearly property taxes, association dues and other similar fees (typically prorated as of the date of closing)
- Fees for title search and other duties performed by the closing attorney
- Insurance fees to include Title Insurance and Hazard Insurance
- Flood zone certification fees
- Down payment and lender fees
- Cost to record the new deed
- Funds to open lender escrow accounts for property taxes and insurance (typically set aside for the following year after purchase
These are additional Questions to Ask Your Lender but also items that your RKT Buyer Specialist and Closing Assistant will help you understand.
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