Closing Costs: Why Do I have to Pay them?

Closing costs are the fees required to finalize your land purchase and, if applicable, your loan. A simple way to think about it: the land price is the asset you’re buying, while closing costs cover the transaction, financing, and legal work needed to officially make the land yours.

Traditionally, closing usually includes title company fees, escrow fees, loan fees, appraisals, and other outside services. These can all add up to between 1-3% of the purchase price, which can often mean thousands of dollars.

Cayetano Development charges a flat fee of $499 in closing costs. No surprises and NO extra charges at the table.

What does the closing cost pay for?

Your closing cost pays for the steps behind the scenes that help make you the owner:

* Preparing the loan documents

* Notary and signing of your legal documents

* Closing documents prepared by a Residential Mortgage Loan Originator (RMLO)

* Recording your purchase with the county

Once the county has officially recorded the necessary documents, Cayetano will provide you with your recorded Warranty Deed and Deed of Trust. Your ownership is not just a handshake and a promise, its rerecorded and verifiable with the county.

If you have questions about your specific closing costs, what they cover, or why they’re necessary, reach out to your sales associate or the Loan Servicing Team. They can review your account and provide a detailed breakdown tailored to your purchase.