Learn About Common Closing Costs in North Atlanta

Written by Posted On Friday, 19 June 2015 04:22

Learn About Common Closing Costs in North Atlanta

Learn About Common Closing Costs in North Atlanta by The Mary Ellen Vanaken Team - North Atlanta

You’ll likely be responsible for a variety of fees and expenses that you and the seller will have to pay at the time of closing. Your lender must provide a good-faith estimate of all settlement costs. In our area of North Atlanta, a good rule of thumb for estimating closing costs is from 2% to 3% of the purchase price.

The title company conducting the closing will tell you the required amount for:
- Down payment
- Loan origination
- Points, or loan discount fees, which you pay to receive a lower interest rate
- Appraisal
- Credit report
- Private mortgage insurance premium
- Insurance escrow for homeowner’s insurance, if being paid as part of the mortgage
- Property tax escrow, if being paid as part of the mortgage. Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.
- Deed recording
- Title insurance policy premiums
- Land survey
- Notary fees
- Prorations for your share of costs, such as condo fees and property taxes

A NOTE ABOUT PRORATIONS: Because such costs are usually paid on either a monthly or yearly basis, you might have to pay a bill for “services” used by the sellers before they moved. Proration is a way for the sellers to pay you back or for you to pay them for bills they may have paid in advance. For example, property taxes are often paid in arrears. But assume you buy the home on the 3rd month of the six-month property tax period. You would owe the County for only the days from the 3rd through the 6th month. The seller would owe for the first three months. The property tax bill would be prorated for the number of days in the period, and then each person would be responsible for the days of his or her ownership. The seller would pay you at closing for their share which you would pay when the bill arrives.

For more information on Common Closing Costs in North Atlanta purchasing a home in the North Atlanta area of Georgia, contact:

The Mary Ellen Vanaken Team of Keller Williams Realty - North Atlanta
5780 Windward Parkway, Suite 100
Alpharetta, Georgia 30005

Learn About Common Closing Costs in North Atlanta

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Mary Ellen Vanaken

Retaining the services of The Mary Ellen Vanaken Team of North Atlanta entitle you to a network of professional individuals that are committed to helping you. Whether your goal is to buy a dream home in North Atlanta, Invest in North Atlanta Real Estate, or SELL your property in North Atlanta. The Mary Ellen Vanaken Team is a team with one common purpose – to get to the closing table.

Here are the benefits to you when deciding to work with The Mary Ellen Vanaken Team.

Mary Ellen Vanaken, Team Owner, is a seasoned professional in both Real Estate and Business. Mary Ellen has an outgoing personality and is known to be aggressive in marketing real estate. With her background in accounting and finance, her goal is to help you find the best value your money can buy.

Administrative Staff – The Mary Ellen Vanaken Team does not allow its skilled sales staff to be busy with administrative tasks.  We understand that an outstanding Real Estate Agent may not be an outstanding administrator, so we allow each to do what they do best.  This benefits you by freeing up your agent to specialize in negotiations and your admin to dot the I’s and cross the T’s during the transaction.

Your Agent – The Mary Ellen Vanaken Team is comprised of niches (real estate areas) Training, certifications, conferences and on the job experience is required for our agents who specialize in these areas:

-       Luxury Homes of North Atlanta

-       Relocation

-       Neighborhood Specialists In:

 Alpharetta, Roswell, Milton, Cumming, Johns Creek and more

The Mary Ellen Vanaken Team believes that a home is not a home because of its room dimensions or the color of the walls. It is about how you feel when you walk though the front door. And the way you can instantly envision your life unfolding there. This is about more than real estate. It is about your life and your dreams.

Mary Ellen Vanaken and her team utilizes the latest technologies, market research and business strategies to exceed your expectations. More importantly, we listen and that means we find solutions that are tailored to you. If you are looking for a real estate team who will work hard for you to sell your home or locate your new home, contact The Mary Ellen Vanaken Team.


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