J.A.F. Appraisals & Real Estate
P.O. Box 4791  Homosassa Springs, FL 34447  (352) 503-7551 appraiser@jafappraisals.com
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GUIDE TO CLOSING COSTS

This information has been prepared as a guide to customary closing costs.  All costs are approximate and may vary from lender to lender.  Please check with the lender of your choice for exact closing costs.

SELLER TYPICALLY PAYS FOR THE FOLLOWING:

DOCUMENTARY STAMPS ON THE DEED.  State document fees on the deed that cost 70 cents for each $100 of the purchase price.

OWNERS TITLE INSURANCE.  This guarantees that liens or other encumbrances do not cloud ownership of the property.  The cost varies with the value of the house.  On a $100,000 house the insurance would cost about $725.

REAL ESTATE COMMISSION. This is based on the percentage set on the listing agreement.

BUYER TYPICALLY PAYS FOR THE FOLLOWING:

APPRAISAL. This is done to make sure the property has sufficient value to justify the loan.  It normally costs about $250 to $300.

CREDIT REPORT. The lender checks the credit history of the buyer.  The cost is about $50.

DOCUMENTARY STAMPS ON THE MORTGAGE NOTE.
This is a state tax and applies to new notes and assumable mortgages.  Cost is 35 cents for each $100 of the note.  $350 for a $100,000 house.

INTANGIBLE TAX ON NEW NOTE.
A state tax of 20 cents for each $100 value of the new mortgage.

LENDERS TITLE INSURANCE. This protects the lender in the event of a problem with the title and typically costs about $125 to $150.

PROPERTY SURVEY.  This is done to make sure that the boundaries of the property are free from emcumbrances, for example, a neighborís fence isnít on the land or a swimming pool isnít on a utility easement. This cost varies with the size of the land.  $250 for an average lot to $375 for five acres.

RECORDING FEES.  This fee is to record the note and mortgage agreement in the courthouse records.  This fee is usually about $45.

RECORDING THE DEED. The price is based on the number of pages of the deed and normally costs $12 for a two-page deed.

TAX SERVICE FEE. Possible fee paid to an independent company that checks courthouse records each year to make sure that tax bills are paid on time to avoid liens being placed against the property.  The one time fee is about $75.

TERMITE INSPECTION.  To make sure the house is not infested.  The cost is about $50.  Many companies will offer a free termite inspection in order to try to sell the buyer a yearly pest control contract.

IN ADDITION, SOME LENDERS MAY CHARGE THE FOLLOWING:

APPLICATION FEE. Covers the cost of applying for the mortgage.  $100 to $300.  This fee is often negotiable.

ATTORNEY FEE. The lender rarely charges this.  Their attorney reviews the documents.  $200 to $500.

DOCUMENT PREPARATION FEE
.  $50 to $300.  This fee is often negotiable with the lender.

UNDERWRITER FEE.
Some lenders may charge a fee for the underwriter to review the loan.  $50 to $300.  Ask your lender.  This fee is negotiable.

Guide To Closing Costs is continued on the next page...
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