Don't forget to factor in closing costs when considering a home sale or purchase. Pat Shannon is seasoned at aiding both buyers and sellers when it comes to closings. E-mail or call us today at 571.237.4767 if your needs include a professional REALTOR® ready for the business side of buying and selling.

Anticipated closing costs

There are certain basic fees linked to closing the sale of a house. These fees are commonly split between the buyer and seller, as directed in the sales contract. Many are customary, but there are nuances to each, so you'll want a real estate expert in Virginia to help guide you through your transaction.

Closing costs that are tied to financing    (More information)

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

At closing, the following taxes are usually paid    (More information)

  • Property Taxes
  • Transfer Taxes and Recording Fees

At closing, these fees are often due    (More information)

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

Sellers: As we hammer out your deal, I'll not only work to get the optimal sales price, but I'll also push for limited closing costs. And once we've come to an agreement, I'll describe in detail the closing costs so you are aware of exactly where your money is going.

Buyers: When buying a home in Arlington County, you will be given 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 prior experience and is required to be within a reasonable range so you're not startled when you show up at the closing table. I'll be willing to go through the GFE with you, answering your questions and highlighting any estimates of concern.

Pat Shannon Long & Foster Real Estate, Inc. 4800 S. 31st Street Arlington, VA 22206
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