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HOW CAN I SAVE MONEY ON AUBURN ALABAMA REAL ESTATE CLOSING COSTS?

Weichert Realtors Porter Properties
August 4, 2011

Auburn Alabama Real Estate Closing Costs Tips

Real Estate closing costs are fees associated with the closing of a real estate transaction. When a home is transferred from a seller to a buyer is referred to as the closing. Typically the majority of closing costs are paid at this time, while some are paid prior.

Standards or regulations surrounding closing costs vary from state to state.

Seller closing costs are often those associated with the sale and transfer of the property such as:

  • Real Estate Broker commissions
  • Title transfer fees
  • Title insurance

Buyer closing costs are often those associated with the mortgage application such as:

  • Application fee
  • Points
  • Pre-paid interest
  • Credit report
  • Appraisal

Closing costs can be part of the purchase price negotiation process. Both parties must agree to the terms of the transaction and who is responsible for the closing costs. For example, a buyer may ask the seller to pay points or mortgage pre-paid interest if they need assistance buying down the mortgage interest rate.

Because every Auburn Alabama real estate transaction is unique, it is important to work closely with a Real Estate Agent to understand what closing costs are your obligations, what can be negotiated and when they need to be paid.

Contact Weichert Realtors – Porter Properties if you have questions about Opelika – Auburn Alabama real estate closing costs and how they will affect your next real estate transaction.

472 North Dean
Road Suite 200
Auburn, AL 36830
PH 334-887-2070
EMAIL:Sales@porterproperties.com