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What to Expect with Buyer's Closing Costs

Buying a home can have some challenges, particularly for first time buyers.  One of your biggest hurdles may be coming up with the down payment.  Another substantial cost that some buyers forget about when preparing to buy a home is closing costs.

The more you know about the home buying process and the expenses that you are likely to face, the better for you.  Closing costs are the miscellaneous fees charged by those involved with a home sale, i.e. your lender, the escrow company, the title company, etc.  Closing costs can run anywhere from about 2% up to about 3.5% of the total sale price of the home you are buying.

Closing costs are separated into two categories: non-recurring closing costs and recurring costs. Below are lists of both the non-recurring and the recurring closing costs that you may have to pay in California: 

Non-Recurring Closing Costs

  •   Title insurance
  •   Escrow fees
  •   Notary fees
  •   Wire transfer fees
  •   Courier fees
  •  Items that you will have to pre-pay - such as interest
  •   Home inspection (typically paid at the time of the inspection)
  •   Recording Fees (local fees)
  •   Credit check
  •   Document Preparation
  •   Appraisal Fees (typically paid for prior to the appraisal)
  •   Transfer Fees (county/city)
  •  Fees associated with your loan
    • Loan origination fees
    • Application and/or processing fees

Recurring Closing Costs

  • Property taxes
  • Private mortgage insurance (you won't have this expense if you are paying 20% down or more)
  • Homeowners insurance

This is not a complete list. There may be other closing costs that you will have.  It is dependent upon each individual situation  (what is customary in the area and what you have negotiated with the seller). 

 

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Latest Homes in Riverside and Corona Built After 2010

$2,700,000
7 Beds 8 Baths IV22093029 MLS Active Status
Panoramic View from this Stunning Estate home! Private, secluded lot on cul-de-sac. Fully gated property. Highly and superbly upgraded in and out. Resort style backyard offers pool w/sun deck, spa, bocce ball court, fire ring, custom swing set, grill, custom up lighting and cafe lights. Relax in the spa, watch the sunset and TV! Cabana (ADU) is approx. 1100 sqft with full kitchen, ice maker, fireplace, full bathroom, built-ins and storage. Property offers additional side patio/outdoor family room with foreverv views, TV, heater, ceiling fans, fountain, secret garden w/ custom garden boxes and steps down to the orchard (lemon, lime, orange, and apple trees). The inside is just as amazing, no expense has been spared! Spacious kitchen w/ 2 large pantries, subzero and another full-size refrigerator, separate ice maker, 6-burner gas range, dual ovens. Every bedroom in this home offers a full bathroom. 2 bedrooms located downstairs, along with office and powder room. The 2nd bedroom is easily a maid/guest quarters w/ separate entrance and tranquility patio. "Hidden" upstairs (dedicated staircase), one bedroom apartment w/ electric kitchenette and own laundry! Perfect for a multi-generational family. Master suite is upstairs, offering beautiful views, master bathroom w/ jacuzzi tub, large balcony, dual walk-in closets. Additional bedrooms and bathrooms are located upstairs, along with a den. Just a few upgrades include: Restoration Hardware chandeliers, all exterior doors offer wooden or phantom screens, custom plantation shutters throughout, all closets have custom cabinetry- you have to see it! 4-car garage with built-ins. Main house is 6 BR, 6.5 BA, 7004 square feet. Cabana (ADU) is approx. 1100 square feet (one bedroom/one bathroom)

455 Wrightwood Court, Riverside

Listing courtesy of Listing Agent: SCOTT TUCKER from Listing Office: PROVIDENCE REALTY

$1,549,000
3 Beds 5 Baths IV22093805 MLS Active Status
AS YOU PULL UP TO THIS ELITE HILLTOP ESTATE LOCATED IN RIVERSIDE'S MOST EXCLUSIVE NEIGHBORHOOD YOU WILL BE MESMERIZED WITH PANORAMIC VIEWS OF THE CITY. ENTER THROUGH THE GATES AND ENJOY INTRICATE DETAILS, IN A STATE OF PERMEANCE THROUGHOUT THIS EXQUISITE HOME. THIS HIGHLY SOUGHT-AFTER HOME IS IN THE LUXURIOUS ESTATE COLLECTION OF STELLAN RIDGE. THIS FORMER MODEL HOME HAS A PRIVATE COURTYARD THAT LEADS TO THE CUSTOM FRONT ENTRY. THE STATEMENT MADE UPON ENTERING THIS HOME FEATURES STUNNING FINISHES. THERE IS AN OPEN CONCEPT FLOOR PLAN THAT STARTS WITH THE GREAT ROOM THAT FEATURES A FIREPLACE, WOOD BEAMED CEILINGS WITH BI-FOLD GLASS DOORS THAT OPEN AND EXTEND TO ENJOY THE OUTDOOR LIVING SPACE, CALIFORNIA STYLE. THE KITCHEN FEATURES A HUGE GRANITE BREAKFAST BAR, ADDITIONAL NOOK, BERTAZZONI STOVE TOP, OVEN AND MICROWAVE, 48" THERMADOR WINE/FRIDGE/FREEZER, CUSTOM CABINETRY, PENDANT LIGHTING AND AN ADDITIONAL 36" BOSCH REFRIGERATOR IN FLEX ROOM. THIS SPACE YOU ARE SURE TO ENJOY WHILE ENTERTAINING GUESTS AS IT OVERLOOKS THE STUNNING GROUNDS AND VIEWS, AS THERE IS ALSO A SEPERATE LIGHT FILLED FORMAL DINING ROOM WITH CUSTOM LIGHT FIXTURE. BONUS FEATURE, A HOME OFFICE AND A SEPARATE MULTI-GENERATIONAL SUITE WITH KITCHENETTE, BATHROOM, PRIVATE ENTRANCE AND GARAGE. THE OWNERS SUITE CAPTURES THE VIEWS THAT THIS HOME HAS TO OFFER WITH AN ABUNDANCE OF PRIVACY, A SLIDER THAT LEADS OUT TO YOUR OWN OASIS. THE EN-SUITE BATHROOM FEATURES DUAL SINK VANITIES, FULL LENGTH MIRRORS, SEPARATE OVERSIZED TUB AND OVERSIZED SHOWER. THE MASSIVE CLOSET IS COMPLETE WITH BUILT IN ORGANIZERS ALONG WITH AN ADDITIONAL WALK-IN CLOSET. ALL SECONDARY BEDROOMS ARE GENEROUSLY SIZED AND BEAUTIFULLY APPOINTED ALONG WITH THEIR OWN PRIVATE BATHROOM. THE BACKYARD FEATURES A CUSTOM PATIO COVER CEILING FANS, LIGHTING, CABANA WITH RESTROOM, SEATING THAT OPENS TO THE KITCHEN WITH BI-FOLD WINDOWS, FIREPIT AND CONVERSATION AREA, CALIFORNIA'S LIVING AT ITS BEST. THE VERANDA HAS PAVERS, LIGHTING, AND WALL MOUNTS FOR ENTERTAINING AND OVERLOOKS THE LUSH, LANDSCAPED GROUNDS AND BREATHTAKING VIEWS OF THE MOUNTAINS AND CITY LIGHTS. ADDITIONAL FEATURES INCLUDE, INDOOR LAUNDRY ROOM, PARTIAL COPPER PLUMBING, HUGE KITCHEN PANTRY, STUNNING TILED FLOORING, 4 CAR GARAGE WITH EPOXY FLOORS AND A GATED ENTRY. THE PRIVACY THAT THIS HOME SHOWCASES IS BEYOND IN LUXURY, STYLE AND LOCATION.

7380 Kingdom Drive, Riverside

Listing courtesy of Listing Agent: KEVEN KELLEY from Listing Office: COLDWELL BANKER REALTY

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.