Purchasing a home is exciting. Once escrow begins, the excitement can change to frustration, particularly if you are not familiar with the closing process or the closing costs associated with the transaction.

Closing costs simply refer to the fees associated with various expenses incurred in a real estate transaction. In the excitement of having an offer accepted for your dream home, you can easily lose track of the fact you are going to incur costs over and above the purchase of the home. Many people make the mistake of only assuming they need the down payment money, and have to rush around town trying to come up with money for the closing fees.

Do yourself a favor, and discuss closing costs in advance with your attorney at Ballaga & Freedman, LLP.  And watch this video to have a good mental picture of the costs that you’re likely to incur.