Here is an itemized list of Closing Cost when Buying a home

Buying a home can cause a lot of confusion with all the rules, guidelines and fee’s, so we thought it would be helpful to make this information available. These are the one-time closing cost when buying a home. If there is no lender involved some of these fees will not be required. We can usually negotiate to get the seller to pay the buyers closing cost.

1. Appraisal: to verify the value of the home (required by your lender)

2. Appraisal Re-inspection: to verify any repairs the appraiser predicated (only if they find issues and have to back)

3. Underwriting fee: the fee for verifying everything about the loan is in order (unless you pay cash)

4. Credit Report fee: to verify your credit score

5. Flood Letter: to verify that the home is not in the floodplain

6. Title Insurance: to ensure that there are no liens or defects on the title

7. Title Company Closing fee: this fee is for the title company to conduct the closing

8. Notary fee: fee for notarizing all the documents

9. Delivery fee: for the title

10. Recording Fee: to record the title into the new buyer’s name

11. Survey: not required but recommended to verify there are no encroachments to the property lines

Your Lender will be able to give you a good faith estimate so you understand exactly what the cost are.  If you don’t have one I can highly recommend Nick Maddock

If you need help we have Buyers Agents working from St Louis MO to West Plaines Mo covering all of Southern Missouri.  Every area is a little different so the closing cost may vary. Contact a local Realtor for your specific area.  If you need guidance and it is outside our area we can refer you a local agent.

If you are ready to start dreaming and planning and searching for a home check out search homes page here