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Real Estate Closing Costs, Part 1

Marc Diaz here. One thing I am quick to admit is that I don’t know much about much. Especially when it comes to the law or business. Laws are always changing, you never, ever know what a jury is going to decide and the experts in business – ha, they thought the subprime crisis would be a small blip on the radar. Also, to further undermine any credibility I have, let me mention that when I first heard about Google at a seminar in Austin, Tx in 2000, I remember turning to the guy next to me and saying, “Another search engine? What a waste”

That being said – I do know closing costs for selling a home in Memphis, Tennessee. I know closing costs for buying a home in Memphis, Tennessee also, but that’s a longer discussion and that will be Part 2.

HERE’S WHAT YOU’LL LEARN IN THIS EPISODE:

  • how to calculate your closing costs for selling your home,
  • the difference between your loan balance and a payoff statement,
  • other hidden charges that can significantly affect how much money you net from closing.

Here’s a sample of a closing statement. The actual closing costs are on page 2, and the seller’s column is on the far right. Mock Closing Statement.

I hope you like this episode of the Lawyer Straight Talk Show. It’s my first solo episode so I’d appreciate any advice or feedback you can give to help me improve. Or if you have any questions or suggestions for other episodes you can email me at marc (at) closetrak (dot) com. The information in this podcast is for informational purposes only and is not to be relied upon as legal advice.

Listen to the Lawyer Straight Talk Show using the web player below or your podcasting medium of choice, here’s the link to our show on iTunes and here’s the link to our show on Stitcher.

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