Redfin

JUNE 27, 2025

Don’t skip critical steps like the home inspection or negotiating closing costs. Take note of closing costs, loan terms, and any additional fees. Missing out on first-time homebuyer programs Between saving for a down payment and covering closing costs, buying a home can feel financially overwhelming.

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Redfin

JUNE 23, 2025

Earnest money is a good-faith deposit held in escrow that can be applied to closing costs or the down payment. Title search and insurance A thorough title search is essential to uncover any potential issues with the property’s ownership. This only applies in certain states. How the Process Works 3.

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Redfin

JUNE 30, 2025

Provide a clear title The seller must deliver a clean title, free of liens, encumbrances, or disputes, unless otherwise agreed (selling “as-is” with known issues). This often involves paying off any existing mortgages, resolving tax liens, or addressing other title defects before or at closing. appliances).

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Closing Purchase and sale agreement Title Closing costs 31

Redfin

JULY 9, 2025

Determine your budget Estimated time: 2-4 weeks Before jumping into your home search the first step is to determine how much you can afford. You may have saved enough for your down payment, but make sure to also account for closing costs, taxes, insurance, and any other unforeseen expenses that may arise.

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Pre-approval Purchase and sale agreement Earnest money deposit Inspection 31

Redfin

JANUARY 28, 2025

Fewer closing costs: Assuming a loan typically involves lower closing costs compared to obtaining a new mortgage. For example, buyers often pay an assumption fee (usually a small percentage of the loan amount) instead of standard closing costs , which can include origination fees, appraisal fees, and more.

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Loans Mortgages VA loan Purchase and sale agreement 31

Redfin

JUNE 17, 2025

The steps of the due diligence period can include any of the following: Home inspection Pest inspection Appraisal Negotiation of closing costs Title search and title insurance Renegotiations (if applicable due to home inspection) During this period before settlement, the buyer and seller are able to continue negotiations.

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Closing Due diligence Purchase and sale agreement Inspection 31

Rochester Real Estate

NOVEMBER 5, 2015

This involves making a careful budget that includes potential costs like the down payment, closing costs, taxes, and possible renovation expenses. Following the down payment, additional costs are known as closing costs, usually between 2% and 5% of the purchase price. But studying the market is not enough.

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Purchase and sale agreement Inspection Pre-approval Fixed-rate mortgage 52

Redfin

JULY 11, 2025

This good-faith payment, typically 1% to 3% of the purchase price, is held in escrow and applied to your down payment or closing costs if the sale goes through. Earnest money is held in an escrow account managed by a neutral third party, such as a title company or escrow firm, until the sale is completed or terminated.

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Earnest money deposit Purchase and sale agreement Escrow holder Pre-approval 31

Rochester Real Estate

NOVEMBER 5, 2015

Additional Costs and Closing Fees In addition to the realtor fees, additional costs and closing fees may be associated with the home sale. These costs can include title search fees, attorney fees, transfer taxes, and any other expenses related to the closing process.

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Purchase and sale agreement Title search Agents Sales 52

Rochester Real Estate

NOVEMBER 5, 2015

Seller concessions allow a home owner to contribute a percentage or dollar amount towards a buyer’s closing costs and/or pre-paid items. For example, a buyer who qualifies for an FHA mortgage can receive up to 6% of the purchase price towards their closing costs.

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Purchase and sale agreement Seller concession Inspection Banks 52

Housing Wire

MARCH 10, 2025

In an industry dominated by private insurers, Iowa Title Guaranty (ITG) continues to operate as a state-run, not-for-profit title system that gives homebuyers a more affordable avenue for settlement services. Iowa bans private commercial title insurance in favor of its unique state-backed model.

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Housing Wire

JANUARY 8, 2021

Understanding what expenses are required at closing to buy a house will help you budget and save more effectively. In this article, we break down exactly what closing costs are so you’re prepared when you start shopping for a home: What are closing costs? Title Search Fee. Mortgage Broker Fee .

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Housing Wire

DECEMBER 16, 2022

Title insurance is different than most other insurance products. ALTA was proud to work closely with the Consumer Financial Protection Bureau (CFPB) to help develop these regulations, which went into effect in 2015. Title insurers’ upfront, curative work involved in a title search is critical to help reduce risk of claims.

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Housing Wire

AUGUST 6, 2021

So while you might eventually save money from refinancing, you’ll also spend money on closing costs. There’s also a chance your lender will require another title search and title insurance, which would add to your costs. Not to mention, If you’re planning on moving, you probably shouldn’t refinance.

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Title search Title Closing costs Loans 451

Housing Wire

DECEMBER 14, 2023

The research found that title and settlement fees are neither regressive nor represent a significant component of the overall closing costs. The Fannie Mae research finds that for title and settlement fees, “differences in charges across borrower groups mostly disappear (after controlling for the transaction characteristics).”

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Housing Wire

MARCH 2, 2021

Now, more than ever, the mortgage and real estate industries require efficient, cost-effective and reliable due diligence solutions. HomeVal delivers those solutions with precise title search, valuation data and current property photographs from one convenient source in a single detailed report. It’s easy to see why.

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Housing Wire

JUNE 11, 2021

Have you budgeted for closing costs? Before you get overwhelmed, take comfort that critical milestones of home inspection, appraisal and closing processes are all great ways to get more acquainted with your prospective new home. What’s the difference between a home inspection and an appraisal?

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Housing Wire

MARCH 1, 2024

For example, recently, Fannie Mae has focused on expanding alternatives to title insurance as a way to supposedly increase homeownership affordability. However, Fannie Mae’s own research from 2022 found that title insurance is not a significant component of the overall closing costs when buying a home.

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HomeLight

JANUARY 31, 2025

When youre preparing to sell or buy a home, the phrase closing costs will be spoken (and written) on both sides of the transaction table. But what are closing costs? Understanding these costs upfront can help you budget properly and avoid surprises. Get Started What are closing costs?

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HomeLight

JULY 11, 2024

Disclaimer: This article provides estimates of a seller’s closing costs that are meant for educational and research purposes only; our calculations are not a guarantee. Before planning your next steps, you’ll want to factor in your closing costs to determine how much money you’ll actually pocket when the sale is completed.

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Closing costs Closing Title search Title 110

Housing Wire

FEBRUARY 23, 2023

When people think about the title insurance industry , what comes to mind is often its core products – title insurance policies that protect property rights of homeowners and lenders. As an industry, our commitment to protection goes beyond title insurance policies.

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Housing Wire

OCTOBER 13, 2022

Prior to the advent and widespread use of title insurance, before taking title to a property, the buyer required that the title be free of any rights, interests, liens or encumbrances of others for which the buyer would be responsible for.

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HomeLight

AUGUST 20, 2021

If you’re selling a home in Connecticut, you should familiarize yourself with closing costs that sellers pay to finalize the transaction. The average closing costs for home sellers fall between 6% to 10% of the home’s sale price. Connecticut sellers can count on these costs. Source: (Roger Starnes Sr / Unsplash).

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HomeLight

MARCH 31, 2021

Whether you’re selling a modern condo in Atlanta’s Midtown or a century-old property in Savannah’s Historic District, you need to know the closing costs sellers are responsible for in Georgia. The Georgia Association of Realtors reports that closing costs in Georgia typically range 5% to 10% of the home’s sale price.

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Closing costs Closing Purchase and sale agreement Title search 105

HomeLight

JUNE 18, 2021

During the excitement of searching for a home and getting preapproved for a loan , closing costs may get overlooked. Many buyers tend to budget for their monthly mortgage payment and their down payment , but closing costs need to be considered in the equation as well. What are closing costs ?

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HomeLight

NOVEMBER 10, 2021

When you sell your house without the help of a real estate agent, you’ll save money on commission fees but won’t escape closing costs entirely. The same closing fees that apply to an agent-assisted sale will be charged to a FSBO seller, with the exception of the agent commission. Seller FSBO closing costs.

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HomeLight

APRIL 20, 2023

Editor’s note: This post will help answer the question: How much are closing costs in New Jersey (NJ)? The example costs provided are based on median home prices and typical fees. Your closing costs may differ depending on your circumstances and the terms of your home purchase. What are closing costs?

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Housing Wire

DECEMBER 26, 2022

Prior to the advent of title insurance, before taking title to a property, the buyer required that the title be free of any rights, interests, liens of encumbrances of others for which the buyer would be responsible for.

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HomeLight

APRIL 14, 2023

But even though the monthly mortgage payments fit into your budget, you’re concerned about coming up with enough cash for a myriad of closing costs in addition to the down payment. Find a Buyer's Agent What are closing costs? Some of these costs, such as property taxes and insurance, apply to homeownership in general.

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Closing costs Closing Purchase and sale agreement Title 105

HomeLight

APRIL 14, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Georgia (GA)? The example costs provided are based on median home prices and typical fees. Your closing costs may differ depending on your circumstances and the terms of your home purchase. to purchase a home in.

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HomeLight

APRIL 20, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Pennsylvania (PA)? The example costs provided are based on median home prices and typical fees. Your closing costs may differ depending on your circumstances and the terms of your home purchase. What are closing costs?

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HomeLight

APRIL 14, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Michigan? The example costs provided are based on median home prices and typical fees. Your closing costs may differ depending on your circumstances and the terms of your home purchase.

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Closing costs Closing FHA loan Inspection 102

HomeLight

APRIL 13, 2023

For the final tabulation in determining the cost of your new house, you subtracted the down payment. But did you remember to add closing costs? So, how much are closing costs in Nebraska? Find a Buyer's Agent What are closing costs? Who pays for closing costs in Nebraska?

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Closing costs Closing Title Title search 102

HomeLight

NOVEMBER 9, 2021

Closing costs are assumed to be part of doing business in real estate, but do cash buyers pay closing costs? Yes, you can expect charges for attorney hours, taxes, plus title and recording fees to still apply, though the use of cash can greatly reduce a buyer’s closing costs with the elimination of mortgage fees.

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HomeLight

JANUARY 29, 2021

Other than that, you’re on the hook for the same closing costs as any other seller. Closing costs without a Realtor® typically average 1% to 7% of the final sale price. Mandatory costs include a long list of fees and taxes from involved parties such as the local and state government and mortgage lenders.

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HomeLight

NOVEMBER 9, 2021

The sales price of your home may appear to offer a good profit margin, but before you start putting those expensive items from your wishlist into your shopping cart, first you must subtract all the closing costs New York homeowners have to pay. Sorry, New York sellers, but you are responsible for quite a few closing costs.

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HomeLight

APRIL 12, 2023

Editor’s note: This post will help answer the question: How much are closing costs in Massachusetts (MA)? The example costs provided are based on median home prices and typical fees. Your closing costs may differ depending on your circumstances and the terms of your home purchase. What are closing costs?

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