Silicon Beach Properties

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Closing Costs - Buyers

There are certain standard costs associated with buying a property in Silicon Beach. Some of these fees are split between the buyer and seller, as spelled out in the purchase contract. The cost split on these fees is, to an extent, negotiable.

As we negotiate the purchase contract on your behalf, we will strive to achieve not only the purchase price that you want, but to also limit the number and amount of closing costs for which you are responsible.

Good Faith Estimate

Buyers will receive a “Good Faith Estimate” of closing costs at the time his/her/their loan application is submitted to the lender. The estimate is based on the loan officer’s past experience and may not include all the closing costs. We are happy to review the Good Faith Estimate and provide comments based on our experience.

Standard Closing Costs

Loan-Related Costs:
  • Loan origination fee
  • Points (if applicable)
  • Appraisal fee
  • Credit report
  • Interest payment
Tax-Related Costs:
  • Prorated property taxes
  • Transfer taxes
Insurance-Related Costs:
  • Homeowners insurance
  • Flood or earthquake insurance (optional, but prudent)
  • Private mortgage insurance (“PMI”), if required by the lender
  • Title insurance
Other Costs:
  • 50% escrow fees
  • Recording fees
  • Notary, courier and other miscellaneous escrow costs