What closing costs should you expect?There are certain typical fees associated with closing the sale of a home. These expenses are commonly split between the buyer and seller, as instructed in the sales contract. Many are customary, but there are nuances to each, so you'll want a real estate expert in Guam to help lead you through your deal.
Costs pertaining to your mortgage to be paid at closing (Learn more)
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
Taxes commonly paid at closing (Learn more)
- Property Taxes
- Transfer Taxes and Recording Fees
At closing, these fees are often due (Learn more)
- Homeowners Insurance
- Flood or Quake Insurance (optional)
- Private Mortgage Insurance (PMI) (optional)
- Title Insurance
Sellers: As we get through the details of your transaction, not only will I work to get the very best sales price, but I'll also advocate for limited closing costs. And once we've come to an agreement, I'll fully clarify the closing costs so you know exactly what you're paying for.
Buyers: If you are purchasing a property in Tamuning, you'll be given a "Loan Estimate" (LE) of closing costs within three days of submitting your loan application and a "Closing Disclosure" no fewer than three days prior to closing. These estimates are based on the loan officer's past experiences and are required to be within an appropriate range so you're not surprised when you arrive at closing time. I'll be happy to look through the estimate with you, answering your questions and highlighting any estimates that appear to be out of the ordinary.