Closing costs you should expectThere are certain ordinary expenses related to closing the sale of a home. These costs are usually divided between the buyer and seller, as noted in the sales contract. Many are conventional, but there are nuances to each, so you'll want a real estate expert in Guam to help lead you through the deal.
Costs pertaining to your mortgage to be paid at closing (Click here for more information)
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
Taxes commonly paid at closing (Click here for more information)
- Property Taxes
- Transfer Taxes and Recording Fees
Insurance fees due at closing (Click here for more information)
- Homeowners Insurance
- Flood or Quake Insurance (optional)
- Private Mortgage Insurance (PMI) (optional)
- Title Insurance
Sellers: As we get through the details of your deal, not only will I work to get the optimal sales price, but I'll also advocate for lower closing costs. And once we've reached an agreement, I'll explain in detail the closing costs so you are aware of exactly where your money is going.
Buyers: When purchasing a property in Tamuning, you will receive 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 reach the closing table. I'll be willing to review the estimate with you, answering your questions and highlighting any estimates of concern.