Buyers' Guide - Closing
- Closing
- Real Estate transactions involve many several transfers of money and specific
costs to different parties - although unique to each sale and individual,
the most common are (talk to your agent to find out a more detailed listing):
- Attorney/Lawyer fees (yours and your lenders if applicable)
- Property taxes (to cover tax period to date)
- Interest
- Title insurance
- Any Documentation preparation fees
Before you sign any closing documents you should have your attorney/lawyer review your papers and closing documents to ensure your interests are protected. Your real estate agent might assist you on selecting a lawyer, or you could find your own. Here are some questions you should ask when looking for a lawyer could be:
- Will the lawyer be representing anyone other than you during the transaction?
- Will the lawyer be paid by anyone other than you in the transaction?
- What is the lawyer's charge for negotiating the agreement of the sale and of reviewing the documents?