Closing Costs for Condos for Boston Midtown condos
Congratulations! Your offer for your Charles River Park condo has been accepted. However, the amount that you actually owe will be higher than your accepted bid, due to closing costs.
Before your closing date, you will receive a Good Faith Estimate (GFE) which will detail all the expenses involved in the purchase of your Boston Midtown condo. These may include any or all of the following:
- Appraisal
- Attorney’s fees
- Balance of the purchase price (minus the earnest money and deposit)
- Condo association application
- Credit report
- Document fees
- Flood certification
- Homeowner’s insurance
- Inspections
- Interest rate and points
- Notice of settlement
- Origination fees (points) for the loan
- Pre-paid homeowner’s association fees
- Pre-paid interest
- Pre-paid property taxes
- Survey
- Title search and title insurance
- Underwriting
- Wiring fees
You will be expected to pay the balance due on your Good Faith Estimate at closing with a cashier’s check or wire transfer.
Wondering whether this is a good time to buy a Charles Rive Park condo or Boston midtown condo?h