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Real Estate Closing

Just before your closing date, the lawyer will provide you with a closing statement or HUD statement that details all the financial details of your home purchase.  We will go over this with you to ensure its accuracy.  At closing, you will sign the final documents and the lawyer will record them at the North Carolina county courthouse.  You are now the new owner! 

                                                    Buyer and Seller costs

Both parties have costs related to the transaction.

In general, the Buyer usually pays for the following (as applicable):

  • Loan origination fee
  • Loan discount fee
  • Loan processing fee
  • Credit report
  • Appraisal fee
  • Interest on new loan from date of funding to first payment date
  • Mortgage insurance
  • Mortgage insurance reserve
  • Hazard insurance premium
  • Hazard insurance reserve
  • County tax reserve
  • Title insurance
  • Settlement or Closing Fee
  • Title Examination
  • Attorney Fee
  • Recording fees for deed and loan documents
  • Notary fees
  • Pest and contractor’s inspection fees
  • Prorated county property taxes
  • Home Warranty Plan (optional)

In general, the seller pays for the following
(as applicable):

  • Real estate commission
  • Document preparation fee
  • Attorney Fee
  • Payoff of existing Seller’s loans
  • Any corrective work agreed to by Seller
  • Judgments, tax liens, etc., owed by Seller
  • Recording fees to clear documents of record
  • Notary fees for Seller’s recorded documents
  • Any unpaid bonds, assessments
  • Any unpaid homeowner’s dues
  • Prorated country property taxes
  • Home warranty plan (optional)

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