Buying or selling a home in Fort Myers, FL? Be prepared by understanding real estate closing costs.
Closing costs are fees charged to facilitate the real estate transaction. They are paid by both buyers and sellers at closing.
For buyers, closing costs run 3-5% of the total purchase price. They include:
- Home inspection fees – appraisal fees
- Lender origination fees – credit report fees
- Title search & insurance fees – recording fees
- Attorney fees – property survey fees
- Property taxes – mortgage insurance
Sellers also pay 1-3% of the home price in closing costs like:
- Escrow fees – real estate commission
- Title insurance – attorney fees
- Property taxes – HOA fees
- Document preparation fees – recording fees
Pro-rating taxes and HOA fees is common, with buyers and sellers splitting the bills. Shop around, as fees can vary between providers.
A real estate attorney in Fort Myers can review your Closing Disclosure form and advise you before signing. They help guide buyers and sellers through the closing process while protecting their interests.
Now that you know what closing costs entail, a real estate lawyer can help make this a smooth transaction for all parties.