Blog: realtors in fort myers

Purchasing a Home — What You Need to Know About Closing Costs

It’s the big day — and it’s too often filled with uncertainty and stress.

The day you go to the title or escrow company, sign your name on the dotted line, hand over a check and prepare to take ownership of your new home.

It’s also the day that you and the seller will pay “closing” or settlement costs, an accumulation of separate charges paid to different entities for the professional services associated with the buying and selling of real property.

To help better explain this often confusing subject, the Land Title Association has answered some of the questions most commonly asked about title, closing and closing costs.

What services will I be paying for when I pay closing costs?

You will usually be paying for such things as appraisal fees, loan fees, escrow charges, title insurance premiums, and advance payments such as property taxes and homeowner’s insurance. A buyer's share of closing costs rarely ever include commissions, that is almost always seller paid

How much should I expect to pay in closing costs?

The amount you pay for closing costs will vary. However, when buying your home and obtaining a new loan, an estimate of your closing costs will be provided to you pursuant to the Real Estate Settlement Procedures Act after you submit your loan application. This disclosure provides you with a good faith estimate of your closing costs. An itemized list of charges will be prepared when you close your transaction and take title to your new property.

Can I pay for my closing costs in installments?

No. Many different parties will have fulfilled their responsibilities and be awaiting payment upon closing. The title or escrow company will disburse money to those parties, pursuant to the escrow instructions, when funds are available.

Will I be allowed to write a personal check to cover my closing cost?

Your closing funds should be in the form of a cashier’s check, issued by an institution from the state of your purchase, made payable to the title company or escrow office in the amount requested. A personal check may delay the closing or may be unacceptable to the title or escrow company. An out-of-state check could also cause a delay in your closing due to possible delays in clearing the check.

Closing on your home is an exciting and overwhelming time. Our hope is that this article explained some of the basic questions that come a long with closing. 

Have any other questions? Feel free to call us at 239-561-2500. 

 


Assist-2-Sell can sell your home for less. We are a full-service broker for significant savings with flexible, cost-saving solutions to sell your homeYou receive complete service from listing to closing. We are permanent year-round residents of Fort Myers, and we are proud to be a family owned and operated business serving Lee County for more than 30 years.

If you're on Facebook, be sure to Like Assist-2-Sell Partners Realty's pageConnect with us on Twitter@Assist2SellSWFL for real estate listings, reads and more.

Are You Considering Selling Your Home in Lee County?

There are many reasons for selling your home. You might want to upgrade in size, relocate for a new career, retire or move to a larger city. No matter the reason, knowing why you are selling your home can help you follow the right plan of action (note for Kayla, link to plan of action blog) for getting what you want.

This article will help you figure out what type of seller you are while guiding you towards the right action plan.

Some home sellers place a high priority on a fast sale even if it means less than the maximum selling price, while some others are focused on getting the highest price possible no matter how long it takes. Still other sellers try to balance the priorities of a timely sale and highest possible sales price. 

If you are a seller who needs to close a sale as quickly as possible, then you should know that getting the highest price possible is not one of your priorities. A timely sale is often a priority when a new job is about to start, the kids need to enter a new school system, or the next home is already purchased.

It does not mean that you won’t or cannot get the highest price, but it means that the price is not the deciding factor. A buyer who can give you a quick closing time will appeal much more to you than a buyer who can offer you more money but the negotiation and closing time drag on.

If top sales price is your top priority, it’s always good to know how low you are willing to go as a bottom price. This will help to eliminate some of the offers that are not seriously willing to negotiate. Even though you should consider all offers and consider all the terms of each offer–not only price–sometimes, if you know the bottom line and are strict about it, you can save yourself time. 

3 Things to Remember When Selling

  • Once you know what your time and financial limits are discuss them with your agent so that they can help you set your selling goals realistically. 
  • Whether you list your home with a professional or try to sell on your own, make sure to review research on the current market and recent sales, and get the proper advice in terms of legal issues, closing needs, etc. 
  • The key is to be realistic and to know what your goals are so they can be met.

Are you ready to sell your home? We can sell your home for as low as $2,995*. Call us at 239-561-2500 or email us at eric@wesellleecounty.com.

 


Assist-2-Sell can sell your home for less. We are a full-service broker for significant savings with flexible, cost-saving solutions to sell your homeYou receive complete service from listing to closing. We are permanent year-round residents of Fort Myers, and we are proud to be a family owned and operated business serving Lee County for more than 30 years.

If you're on Facebook, be sure to Like Assist-2-Sell Partners Realty's pageConnect with us on Twitter @Assist2SellSWFL for real estate listings, reads and more.

Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and tell you how I can serve all your real estate needs.

Eric Potts
Assist-2-Sell Partners Realty
8361 Village Edge Circle #2
Fort Myers, FL 33919
Phone: 239-561-2500
Email: eric@wesellleecounty.com

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Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and tell you how I can serve all your real estate needs.