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      02-06-2007, 05:29 PM   #17
CnoteMD
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There aren't too many hidden costs, since they are required to give you a breakdown of the closing costs prior to your closing (good faith estimate). Most people would also recommend hiring a real estate attorney (they usually charge a few hundred dollars and will perform a title search and review the paperwork before closing).

Off the top of my head, this is what was paid at my closing (I did not pay points):
  • 3 months property taxes
  • 2-3 months condo fees (reserve)
  • 1-2 months mortgage interest (you won't be expected to make a payment for almost 2 months)
  • appraisal fee
  • title insurance
  • attorney fee
  • application fee
  • inspection fee

To be on the safe side, have about 3-5% available for closing costs (although it will likely be closer to 3%). Hope that helps.
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2008 BMW 535i Space Gray, Black Leather, Dark Bamboo Trim| Sport Automatic with Paddles | Sport Package
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