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Real Estate Tips
Closing or Settlement >Estimated Closing Costs

There is a federal law that requires mortgage lenders to give prospective buyers an itemized, "good-faith" estimate of their closing costs. Sometimes buyers arrive at the closing with this document in hand and proceed to question each item on the final closing statement that does not match the estimate exactly.

These "good-faith" estimates are just that--estimates. The lender's charges will be fairly accurate, but the charges for attorneys, termite inspections, title insurance, and other items that appear on the closing sheet may vary from the estimate. Some pro-rated items, such as taxes or homeowner's association fees, will also be different if you don't close on the date that was used to calculate the estimate. The purpose of the disclosure law is to give you a ball park figure of your closing costs. But the estimate you are given won't be to the penny--probably not even to the dollar!

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Real Estate Trivia
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What are three of the best indicators of real estate market trends?

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Existing home sales, new home building and mortgage interest rates.
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Christine Demonbreun and Debbie Nunn, REALTOR®, real estate agents and broker for Ft. Campbell, KY, Clarksville, Tennessee and Montgomery County, Tennessee home listings, property and land for sale - NUMBER1EXPERT(tm)

Christine Demonbreun and Debbie Nunn
Keller Williams Realty

2271 Wilma Rudolph
Clarksville, TN. 37040
Phone: 931-648-8500
Fax: 931-648-8551
Cell: 931-320-2133
Cell: 931-320-1651
Email: christinedemonbreun@NUMBER1EXPERT.com

Serving Clarksville, Montgomery County, Tennessee since 1985.

CRSGRIEqual HousingREALTOR


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