Columbia SC Real Estate and Homes for Sale

Often I get questions about closing costs from my Columbia SC Real Estate Buyers.  They seem to be a mystery to most people, so I wanted to get it out there, so people can know and understand exactly what closing costs are.

Typically, closing costs are considered part of purchasing a house.  They are the fees associated with closing a house and or getting a loan on a Columbia SC Real Estate home.  No matter who you are, unless you have some great friends, you will have closing costs when you purchase a house. 

When speaking with a lender, they are required to give you a Good Faith Estimate which is an estimate of your closing costs. Some of the closing costs you will incur are:

* The down payment

* Loan fees (points, application fee, credit report)

* Prepaid interest

* Inspection fees

* Appraisal

* Mortgage insurance 

* Hazard insurance 

* Title insurance 

* Document Fees

*Attorney Fees

Since the State of South Carolina is a Buyer’s Preference state, the purchaser picks and pays for the attorney. 

Within Columbia SC Real Estate, the purchasers closing costs are often negotiable, meaning the purchaser can ask the seller to pay for part or all of their closing costs.  Typically, closing costs run roughly 3%, sometimes more and sometimes less. 

If you have any questions on Columbia SC Real Estate closing costs, please ask!

Also see, What is Columbia SC Real Estate earnest money?