closing costs

CRAIG BLACKMON IS A REAL ESTATE ATTORNEY, BROKER, AND INNOVATOR IN SEATTLE.

Prepaids

“Prepaids” are funds that must be paid in advance at closing, such as homeowner insurance premiums and real estate taxes.  Only a buyer pays prepaids. If you are a buyer getting a rebate, make sure you max out your prepaids as much as possible. Lenders...

Closing Costs

Closing Costs Closing costs are incurred and paid at Closing.  Both the buyer and the seller incur them. Generally speaking, the seller’s costs at closing include the excise tax (1.78% here in the Seattle area), one half the escrow fee, the costs of a title...

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