Finding the right home at the right price is just one aspect of a real estate transaction. Douglas Elliman is experienced at aiding both buyers and sellers when it comes to closings. E-mail or call us today at 631.777.4663 if your needs include a real estate pro experienced in the business side of real estate.

Closing costs you should expect

There are certain standard fees linked to closing the sale of a house. These costs are commonly divided between the buyer and seller, as instructed in the sales contract. Many are conventional, but there are nuances to each, so you'll want a real estate expert in New York to help show you through your transaction.

Loan-related closing costs    (Click here for details)

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

Taxes commonly paid at closing    (Click here for details)

  • Property Taxes
  • Transfer Taxes and Recording Fees

At closing, these fees are often due    (Click here for details)

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

Sellers: As we negotiate your transaction, not only will I work to get the optimal sales price, but I'll also campaign for reduced closing costs. And once we've reached an agreement, I'll fully explain the closing costs so you are informed of exactly where your money is going.

Buyers: If you're purchasing real estate in Suffolk County, you'll get 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 suitable range so you're not shocked when you get to the closing appointment. I'll be happy to look at the GFE with you, answering your questions and highlighting any estimates that seem off.