Don't forget to factor in closing costs when considering a home sale or purchase. Re/Max Real Estate Ten is experienced at aiding both buyers and sellers when it comes to closings. E-mail or call us today at (423) 581-8881 if your needs include a professional REALTOR® ready for the business side of buying and selling.

Closing costs you should expect

There are certain typical costs accompanying closing the sale of a house. These expenses are often divided between the buyer and seller, as noted in the sales contract. Many are universal, but there are nuances to each, so you'll want a real estate expert in Tennessee to help direct you through the process.

Closing costs that are tied to financing    (Click here for more information)

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

At closing, these taxes are usually paid    (Click here for more information)

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance fees due at closing    (Click here for more information)

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

Sellers: As we hammer out your transaction, we'll not only work to get the very best sales price, but we'll also advocate for limited closing costs. And once we've come to an agreement, we'll fully clarify the closing costs so you are informed of exactly what you're paying for.

Buyers: When purchasing a house in Morristown, 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 stunned when you arrive at the closing appointment. We'll be happy to review the GFE with you, answering your questions and highlighting any estimates that appear to be out of the ordinary.

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