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Real Estate Tips
Closing or Settlement >Estimated Closing Costs

There is a federal law that requires mortgage lenders to give prospective buyers an itemized, "good-faith" estimate of their closing costs. Sometimes buyers arrive at the closing with this document in hand and proceed to question each item on the final closing statement that does not match the estimate exactly.

These "good-faith" estimates are just that--estimates. The lender's charges will be fairly accurate, but the charges for attorneys, termite inspections, title insurance, and other items that appear on the closing sheet may vary from the estimate. Some pro-rated items, such as taxes or homeowner's association fees, will also be different if you don't close on the date that was used to calculate the estimate. The purpose of the disclosure law is to give you a ball park figure of your closing costs. But the estimate you are given won't be to the penny--probably not even to the dollar!

See All Tips In The "Closing or Settlement" Category >
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Real Estate Trivia
Q 
What celebrity home sold recently for a reported $5.5 million, despite its yellow-and-rust striped paint job?

A 
This Hollywood Hills residence was the former home of the popular singer, Madonna.
See More Real Estate Trivia >


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Eileen's Team, REALTOR®, real estate agents and broker for Seattle, Redmond and Bellevue Washington home listings, property and land for sale - NUMBER1EXPERT(tm)

RE/MAX Eastside/Metro Brokers Inc
RE/MAX Eastside/Metro Brokers Inc

11555 SE 8th St Suite 200
Bellevue WA 98004
Cel: (425) 444-8338
Tel: (425)453-7000
Fax: 425-453-4778
Email: cwester@hotmail.com

Our two award winning offices boast a long term presence in the Pacific Northwest Region of 20+ years, with over 250 highly experienced agents to serve you. The combined volume totals generated by these highly successful agents have made these two offices the number one offices in our region. Our agents consistently place in the top 100 Individuals and Teams in the country. Our agents participate in RE/MAX Premier Community Citizenship by supporting such organizations as the Susan G. Komen foundation, Children’s Miracle Network, Sentinels of Freedom, and Operation RE/MAX.

CRS ePro Equal Housing MLS REALTOR



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