CLOSING COSTS

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There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract.

As I negotiate the sales contract for you, I will not only work to get the sales price you want, I will also work to limit the number of closing costs for which you will be responsible.

I will walk you through the closing costs, answering any questions you may have explaining which costs are decreed by law to be yours and which are negotiable.

Good Faith Estimate

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. I will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates I believe to be low.

Standard Closing Costs

Loan-Related Costs

Loan Origination Fee

Points (optional)

Appraisal Fee

Credit Report

Interest Payment

Escrow Account

Taxes

Property Taxes

Transfer Taxes and Recording Fees

Insurance

Homeowners Insurance

Flood or Quake Insurance

Private Mortgage Insurance (PMI)

Title Insurance

The following breakdown of settlement costs are estimates only, each title company / attorney reserves the right to change fees.

Settlement Fee $100 to $250

Title Search Fee $50 to $100

Title Exam Fee $95.00

Title Insurance (based upon sale price) $5.75 per thousand for the $100,000, $5.00 per thousand from $100,000 up to $1,000,000; $2.50 per thousand from $1,000,000 up to $5,000,000; $2.25 per thousand from $5,000,000 up to $10,000,000; and $2.00 per thousand from $10.000,000 >>>>

Endorsements $25 per endorsement

Florida Form-9 10% of Title Insurance Premium

Courier Fee $25 per delivery

Recording Fee $10 for 1st page $8.50 each additional page

Intangible Tax on Mortgage $2.00 per thousand of mortgage amount

Doc Stamps on Mortgage $3.50 per thousand of mortgage amount (Note:  Documentary stamp tax is levied on documents as provided under Chapter 201, Florida Statutes)http://dor.myflorida.com/dor/taxes/doc_stamp.html

Doc Stamps on the Deed $7.00 per thousand of purchase price (Note: Documentary stamp tax is levied on documents as provided under Chapter 201, Florida Statutes) http://dor.myflorida.com/dor/taxes/doc_stamp.html

Minimum title insurance premium is typically around $100

If property taxes must be estimated in order to prorate for the buyer/seller, they can be estimated on the base sales price multiplied by .015 for example, a house sells for $150,000 x .015 = $2,250  This is an estimate only.

Shauna L. Platt, Realtor® (941) 661-7377

Peace River Partners Realty, LLC

Contact me when buying or selling a home or lot in beautiful Southwest Florida

Servicing Punta Gorda, Port Charlotte, North Port, Englewood and Venice.  No property too big or small.