Don't forget to factor in closing costs when considering a home sale or purchase. Meg Smith and Associates Real Estate is experienced at helping both buyers and sellers when it comes to closings. E-mail or call us today at (631) 647-7013 if your needs include a professional REALTOR® experienced in the business side of buying and selling.

Anticipated closing costs

There are certain typical costs associated with closing the sale of a house. These costs are commonly divided between the buyer and seller, as directed in the sales contract. Many are universal, but there are nuances to each, so you'll want a real estate expert in New York to help lead you through the deal.

Closing costs that are loan-related    (Learn more)

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

Taxes commonly paid at closing    (Learn more)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Learn more)

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

Sellers: As we get through the details of your sale, we'll not only work to get the highest sales price, but we'll also push for lower closing costs. And once we've reached an agreement, we'll fully explain the closing costs so you are informed of exactly what you're paying for.

Buyers: If you're purchasing a property in Bay Shore, you'll receive 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 a reasonable range so you're not surprised when you show up at closing time. We'll be willing to review the GFE with you, answering your questions and highlighting any estimates that seem off.

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