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At Closing the Title Company will prepare a Settlement Statement outlining the cost for settling the real estate transaction. Some of the cost below will be on this form.

Broker Commissions: The Broker commission agreed upon when the listing agreement was executed will be on the Settlement Statement. I offer discounted total commissions as low as 5%. Please contact me at 239-910-1948 to learn more.

Unpaid Taxes/Liens: The Title Company will do a public lien search and let you know if you owe money to any municipalities. Property Taxes will be prorated from January 1st to your day of closing. You will pay the Buyer the tax owed up to closing and the Buyer will assume the balance owed aft the close date.

Special Assessments: Special assessments are installment payments owed for improvements like water, sewer, road or other local government improvements that were assessed to the property. In most cases they must be paid off at close or more often, they are assumed by the Buyer. It is wise to use a seasoned REALTOR who can determine if these fees can be assumed by the Buyer.

Title Company Fees: The title company will usually have a fee of $250-$500 depending on the complexity of the closing.

Current Mortgage Pay Off: Before the closing, you will sign a release for the Title Company to get the mortgage balance that will be owed on the day of closing. This will allow the Title Company to prepare the Settlement Statement accurately in regards to your mortgage.

Current Home Equity Lines of credit: As with the mortgage pay off, you will have to authorize the closing company to get this information. If there is any amounts owed, they also will be paid off at closing.

Possible Mortgage Prepayment Penalty: You should check on your Mortgage and Note to see if the lender will impose a pre-payment penalty if the loan is paid off early.

Other fees may also be incurred if the property being sold is a condo or located inside a gated community. The condo and HOA fees are usually prorated at close by the Title Company.