What are “closing costs” when selling your home?
What is the price of selling your New Braunfels home? It isn’t as simple as selling a sweater. Selling a home includes fees, taxes, commissions, and many other miscellaneous costs that can really add up as closing costs. When you sign with a top real estate agent like Dawn Loding of The Loding Group at Keller Williams in New Braunfels, Texas, you’ll receive a list of your estimated expenses, to be deducted at closing. Overall, you should expect the following:
- Title Search Fees
- Repairs
- Home Warranty
- Notary Fees
- Recording Fees
- Escrow Fees
- Mortgage Pay-off Balance
- Loan Pay-off Fee
- Pre-payment Penalty
- Lien Releases
- Seller Concessions
- Termite Letter
- Commissions for listing/selling realtors
There may be further costs associated with the sale of your home, and your realtor should describe those in advance, so you’ll have no surprises at closing.
Over the next several weeks, we’ll address these costs in detail, so bookmark this page so you won’t miss an installment.
What are Title Search Fees?
Also called Title Insurance, this fee is paid to the Title company to ensure that you can sell your home without any liens or other encumbrances clouding the title. A title search will also turn up any restrictions and homeowners associations connected with your New Braunfels property.
Title insurance protects an owner's financial interest in their property against loss due to title defects, liens, or other such encumbrances. It will defend against a lawsuit attacking the title, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy.
The owner's policy assures a purchaser that the title to the property is clean and free from all defects, liens and encumbrances except those listed in the policy or excluded from the policy's coverage. It also covers losses and damages suffered if the title is unmarketable. The policy also provides coverage for loss if there is no right of access to the land. Although these are the basic coverages, broader owner's policies can cover other losses.
Title insurance protects an owner's financial interest in their property against loss due to title defects, liens, or other such encumbrances. It will defend against a lawsuit attacking the title, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy.
The owner's policy assures a purchaser that the title to the property is clean and free from all defects, liens and encumbrances except those listed in the policy or excluded from the policy's coverage. It also covers losses and damages suffered if the title is unmarketable. The policy also provides coverage for loss if there is no right of access to the land. Although these are the basic coverages, broader owner's policies can cover other losses.
The liability limit of the owner's policy is typically the purchase price paid for the property. Of course, coverages can be added or deleted with a variety of endorsements that cover many common issues. A top real estate agent such as Dawn Loding of The Loding Group at Keller Williams in New Braunfels, Texas can provide information about the price of title search and insurance before the real estate contract is signed.
If you are thinking about selling your home, contact The Loding Group to find your home’s value and speak to Dawn Loding, a New Braunfels Realtor with over a decade of experience in selling homes quickly and for top-dollar! Act NOW, while the market is still HOT! Call Dawn Loding at 830/481-7580 today, and click here to find your home’s value NOW!
