Closing Cost and Transaction Fees
One of the many challenges faced by both Buyers and Sellers in today market place is the increasing cost associated with purchasing a home. With increased demands on virtually all players in the real estate transaction, cost continues to rise. Appraisals have gone up, the cost of title insurance has increased, the effects of (TILA RESPA Integrated Disclosure (TRID) are putting increasing demands on lenders and law firms resulting in increased labor and expenses, all of which are affecting the closing cost associated with purchasing a home.
Closing costs or Transaction cost generally fall into several categories: Loan Origination Cost, Attorney Fees & Government Recording Fees, Inspection Fees and Escrow