Closing Costs Explained
The field of real estate can be difficult to navigate with so many technical details that the average person doesn’t have time to deal with. That’s why your real estate agent is a valuable asset. Closing costs in particular are an important term to keep in mind when on the market for homes for sale in Napa CA . Closing costs are fees paid at the closing of a real estate transaction or “escrow.” Escrow is the time when the home’s title is transferred from seller to buyer. The buyer usually pays most closing costs as these fees are related to mortgage financing and escrow services. It’s important to remember closing costs when looking for homes for sale in Napa CA as they can be 3-5% of the home’s purchase price. Escrow companies will provide settlement statements for buyers and sellers to map out dues to the proper parties. At closing, some seller obligations include paying the city and county transfer taxes, paying commission to a real estate agent for coordinating sale and tran