Closing Costs When Buying A Home

If I have to think about one more thing...

When you purchase a home in Salt Lake City, there are costs to close the transaction between buyer and seller, and costs to close the loan between a borrower and the investor (bank). Closing costs for purchasing real estate can include home mortgage loan origination fees, title search and buyer title insurance costs , escrow of property taxes, appraisal costs, and more, and general rule of thumb run around 3% of the purchase price.

Now, I know, WHAT, you ask, is up with that? Isn’t it enough that we are paying a whole heap of money (translate: A LOT), without all these extra charges? Well, if it were up to us, yeah (well

Partial List of Closing Costs For Buyers

except for us), but don’t shoot the messenger. Both the seller and the buyer each have separate closing costs associated with the sale/purchase of a home.

Below is a little video I found that explains in 2 minutes all about closing costs when buying a home. This video is from a title company, and will explain them. I admit it’s a little cheesy, but you can glean some information with it…then call us and we will help you make sense out of it.

Now, there is no Federal Title Co here in Utah, but there are great title companies that will help you with your home purchase . We happen to use United Title which does not have a spiffy video, but is a great title company anyway. One of the resources you can find on Their website is an example of a Settlement Statement, so that you can see what is included on one, along with a step by step guide on how to read it. It is also a good explanation of what you can expect in closing costs when purchasing your home.

Anyway, when you get to the point of making an offer, if you are working with us, your favorite Equity Realtors, local experts and most awesome buyers agents, you will already know these things well and we will have explained each of these to you so that you understand what they are and where these closing costs fit into the scheme of things. Also, you will know how you can role these into your mortgage or have the seller pay them. Did I see a little light bulb go on there?

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And…If you are not working with us…

Well….you should be. Text us or give us a call at 801-819-9005 and we will answer your questions about closing costs, real estate in general or even to look at a home you found.

We are happy to help in any way we can!

And as Forrest Gump would say: “That’s all I’ve got to say about that”

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Closing Costs When Buying A Home