Miami Real Estate

Typical Buyer’s Expenses

Buyer’s Typical Expenses:  Loan application, mortgage points, appraisal, credit report, title insurance (lender’s policy/owner’s policy), title examination, title update (from delivery to closing), document preparation, courier fees, recording fees ($4-$7 per page), buyer’s attorney’s fees, documentary stamps on the note ($.35 per $100 of the note amount), intangible tax on the mortgage ($.20 oer $100 of the mortgage amount), survey, inspections. $250 EWM flat rate commission, property taxes (2-4 months), hazard insurance (14 months), flood insurance - if required(14 months), windstorm insurance –  if required (14 months),PMS Premium (if loan is more than 80% loan to value, prepaid interest.