Closing Costs

	Buyer When Applying for a loan, lenders are required to give you a good-faith estimate of the closing cost. The fees vary according to the type of loan applied for and terms and some fees associated with the loam application will be required to be paid in advance. Here are some examples of closing costs that may be included:
	Loan fees such as credit report, application fee and points Down Payment Inspection fees Appraisal Title Insurance Mortgage Insurance Hazard Insurance
	Seller The Seller must satisfy any outstanding loan at the closing before they can receive any proceeds from the sale. Here are some examples of other closing costs often paid for by the Seller
	Prorated property taxes State tax stamps Title insurance Broker's commission Closing costs can also be negotiable between the buyer and the seller. Certain costs are also prorated between the buyer and seller such as property taxes.