When it comes to understanding the ins and outs of real estate, it’s important to know the various costs that occur, such as closing costs. At the “closing” of escrow, closing costs are due. Escrow is when the title of the home goes from seller to buyer. While both buyer and seller incur closing costs, negotiations may take place to decide cost allocation. When dealing with houses for sale in Napa, it helps to have real estate agents Napa experts that understand the market. Closing costs are mostly paid by the buyer with many of the fees being related to mortgage finances, title and escrow services. Escrow companies will provide settlement statements to the buyer and seller before closing. Need help understanding the details of closing costs? Contact some of the most trusted real estate agents Napa has and ask about how to handle houses for sale in Napa. Typical seller obligations at closing include:

  • Paying commission to real estate agents for handling the transfer
  • Paying city and county transfer taxes due at sale
  • Other seller charges like the Natural Hazard Disclosure report, home warranty, and HOA transfer fees

Buyer closing cost obligations may include:

  • With houses for sale in Napa, buyers often obtain loans. This will most likely require application fee to the lender and broker fee, credit report fee, and down payment on mortgage insurance. Ask real estate agents in Napa about loans for a home.
  • Escrow company fee and title insurance are often paid by buyer.
  • Property inspections billed to escrow must be settled at closing.
  • Prepaid property taxes and HOA assessments are also reimbursed by buyer to seller.

It’s important to have a complete understanding of closing costs and the effect they might have on houses for sale in Napa. If you’re looking for a home, understand that you may have to pay 3-5% of the purchase price. Confused? Contact real estate agents Napa experts Connie and Jamie. Napa natives and mother-daughter team, Connie and Jamie are committed to properly handling houses for sale in Napa to ensure clients are happy whether they’re buying or selling.