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Other items other than above may be common in some jurisdictions, and some transactions may include unusual or unique items as closing costs. In the United States, Federal law requires that all housing transactions financed by the mortgage have all closing costs documented in detail on the standard HUD-1 form. This information should be provided to the principal but should not be sent to the government. Instead of a Statement or Statement by the Purchaser and/or Seller is often requested to be given to a government office that records the deed. The 1099-S form may need to be sent to the United States Internal Revenue Service, but Federal law does not allow fees for this.
Video Closing costs
References
Maps Closing costs
External links
- Global comparison of residential property transaction costs, Global Property Guide
Source of the article : Wikipedia
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