Closing Costs Unveiled: Your In-Depth Guide with All City Homes in Sacramento

Buying or selling a home in Sacramento? One essential aspect that often perplexes homebuyers and sellers alike is closing costs. In our steadfast commitment to empower your real estate journey, All City Homes provides a detailed, easy-to-understand guide to demystify closing costs in your transactions.

What Are Closing Costs?

Closing costs encompass the various fees and expenses, aside from the property price, that buyers and sellers incur to finalize a real estate transaction. They are an essential aspect to plan for, whether you’re aiming to own a slice of Sacramento or passing your keys to the next homeowner.

Seller's Share in Closing Costs

Here's a breakdown of common closing costs for sellers:

• Agent Commissions: A fee, generally a percentage of the sale price, paid to the real estate agents.
• Transfer Tax: A fee for transferring the property title to the new owner.
• Escrow Fee: Paid to the escrow company for facilitating the sale.
• Title Insurance: Protects the buyer from any title issues.

Sellers typically anticipate costs approximately 6-10% of the property’s sale price, though it's wise to consult with your real estate professional for precise figures.

What Buyers Can Expect

Buyers, your closing costs, usually ranging from 1-1.5% of the purchase price, may include:

• Loan Origination Fee: Charged by the lender to process your mortgage.
• Home Inspection and Appraisal Fees: To assess the property’s condition and value.
• Title Insurance: Safeguards against potential title disputes.
• Escrow Deposit: May be required to be held in an account until closing.
• Credit Report Fee: Charged for pulling your credit report.
• Underwriting and Processing Fees: For processing your loan application.
• Prepaid Costs: Including homeowners insurance, property taxes, and possibly homeowner association dues.

Prepaid Items: A Special Mention

Prepaid items are not fees, but rather, upfront payments for recurring home-related costs, such as property taxes and homeowner's insurance, and possibly a portion of the interest due on your loan.

An Alliance with All City Homes: Crafting Pathways and Legacies

At All City Homes, your aspirations fuel our purpose, driving our commitment to:

• Elevate Relationships: We’re dedicated to nurturing genuine connections, ensuring your journey feels supported and valued.
• Weave Legacies: Your story interlinks with ours, crafting legacies through homeownership and community development.
• Educational Empowerment: Knowledge underpins empowerment, and we prioritize providing insights that enable you to stride confidently through your real estate journey.

Ready to navigate through the fiscal aspects of Sacramento's real estate with a committed ally? Connect with All City Homes, where every transaction is a thread woven into the fabric of generational wealth and empowered homeownership.