<When the time comes to close on your home, your agent will work with many other people to complete the transaction.
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Here in Central Iowa, we see different options that are customary for the closing on your home. Your agent will have a relationship with an escrow company or an attorney’s office that will help with the legal and financial details of the settlement of the home.
What these other people do is assist in calculating the tax proration, assist in verifying that all of the fees have been done correctly on both sides of the transaction, and check if there are any clouds in the title that occur when we get the abstract updated and get the title opinion. They also help coordinate legally what needs to be done in order to clear that up.
“THERE ARE MANY HANDS INVOLVED IN DETERMINING YOUR CLOSING FEE.”
These other people assist in calculating the tax proration and verifying that all of the fees are done correctly on both sides of the transaction. They will also check if there are any clouds in the title that occur when we get the abstract updated and get the title opinion.” They also generally just make sure that everything was completed legally and in a way that’s going to protect you as a seller.
Whether it’s an attorney or an escrow company that does this, there are similar fees in our market that usually cost anywhere from $250 to $500, depending on who does the service. It’s something to note as an additional cost to anticipate.
If you have any other questions about how this closing fee works, feel free to reach out to me by phone or email. I look forward to hearing from you!