Settlement Costs

PURCHASE

Settlement costs in Maryland are estimated to be 3% - 4% of the purchase price. Settlement costs are high due to:

• Transfer taxes imposed on the sale of real estate
• Taxes must be paid 6 months in advance
• Home insurance must be paid for 12 months in advance

Settlement costs will consist of:

• Lender Fees
• Title Company Fees
• Transfer Taxes
• Prepaid Interest, Taxes and Insurance