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Who Pays Closing Costs

You’ve done it! At times it seemed impossible, but you made it through the lengthy, exhilarating process of buying a home. The only thing left to do is CLOSE!

In most cases, all you need to do is show up and sign the papers. Every professional involved in the process, especially when you work with a company like RCM, has laboriously pored over each and every single letter of these intimidating documents, making sure that all of the negotiated details are included.

Who Pays Closing Costs?

Who Pays Closing Costs?

Buyers often wonder whose responsibility it is to cover the closing costs. This detail usually depends on what you’ve decided before you close on the property. However, this item is usually the responsibility of the buyer.

If that’s the case with your home, bring several blank checks. The closing costs are itemized, and if you are paying them, you will have to write several checks. It’s a good idea to bring some blank ones too, just in case you understood an itemization differently, and you need to split the amount of one check to two distributors. Don’t worry, though – your RCM real estate agent will prepare you for this event. It is possible, albeit rare, to negotiate different scenarios when you decide who will pay the closing costs.

At that point, everyone will sign the official papers, and the deed of your new home will be transferred to you. This is your last chance to alter any part of the property deal.

Get a 24 Hour Head-Start

Get a 24 Hour Head-Start

The day before you close on the property, gather all the documents you may have received during the entire process of buying a home. This might include things like the original estimate, any pending contracts, title search information, proof of insurance (homeowners and mortgage), home appraisal and inspection reports, and disaster-prevention documents like flood certifications. Items on these documents may be discussed during the closing proceedings, and you will want to have them on hand.

Many contracts grant you a walkthrough of the house and property one day prior to closing. You will want to ensure the seller has fully vacated the property. In addition, you will want to ensure the property is still in the agreed-upon and expected conditions that were previously specified.

In rare cases, you may actually find problems in the final walkthrough. If this occurs, you have the option to push back the closing proceedings. If something has come up that will require repairs, you are totally within your rights to ask that the seller deposit funds in escrow.

In Summary

In Summary

At the closing proceedings, the final step of the home-buying process, expect these responsibilities:

1. Sign all the necessary documents. (Remember to read every document and watch out for unaccounted spaces and blank item lines.)

  • any and all agreements with you and your lenders
  • any and all agreements with you and the sellers

2. Pay any agreed-upon closing costs and escrow items. (that is, unless you’ve made a different deal regarding who will cover the closing costs.)


  • You have just finished buying a home, you have bought YOUR HOME!
  • Welcome to YOUR FUTURE! From your friends at RCM, ENJOY IT!

RCM National Realty is an exclusive and boutique real estate company dedicated to helping each client customize their buying or selling experience to best fit their families’ schedule and housing needs. With our diverse group of agents it is easy to find a qualified agent that understands the market you are interested in. Let RCM National Realty open the doors to your real estate dreams!

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