Finding the right home at the right price is just one aspect of a real estate transaction. Landa Pennington is seasoned at aiding both buyers and sellers when it comes to closings. E-mail or call me today at (256) 656-4741 if your needs include a real estate pro ready for the business side of buying and selling.

Closing costs you should expect

There are certain basic expenses accompanying closing the sale of a house. These expenses are usually divided between the buyer and seller, as noted in the sales contract. Many are universal, but there are nuances to each, so you'll want a real estate expert in Alabama to help guide you through your deal.

Loan-related closing costs    (Click here for more information)

  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

At closing, these taxes are usually paid    (Click here for more information)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Click here for more information)

  • Homeowners Insurance
  • Flood or Quake Insurance (optional)
  • Private Mortgage Insurance (PMI) (optional)
  • Title Insurance

Sellers: As we hammer out your deal, not only will I work to get the highest sales price, but I'll also advocate for lower closing costs. And once we've arrived at an agreement, I'll give a detailed list of the closing costs so you are aware of exactly where your money is going.

Buyers: If you're purchasing real estate in Madison County, you will be given a "Good Faith Estimate" (GFE) of closing costs within three days of submitting your loan application. The estimate is based on the loan officer's previous experience and is required to be within an acceptable range so you're not startled when you show up at the closing table. I'll be willing to look through the GFE with you, answering your questions and highlighting any estimates that seem questionable.

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