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New Web Site Takes Mystery Out of Closing Costs

I've just taken a spin through a new Web site, Closing.com, that looks like it's going to be really useful for home buyers trying to figure out who to choose for closing services and what their total cost will be.

With its Closing Wizard, you can just plug in a few details about the home you're buying -- Zip code, sales price, down payment, square footage and interest rate, and it will tell you how much cash you need to close the deal, including down payment and fees.

It has info on local providers of title insurance, homeowners' insurance, home inspections, termite inspections, real estate lawyers and other services. For many, it shows actual price quotes from different local providers and provide their addresses, phone numbers and Web sites so you can follow up on your own. It's especially strong right now with info on title insurance, which is one of the biggest expenses at closing. In some areas the site has info on local property taxes, and the folks backing the site promise to bulk up that information rapidly.

What I really liked about it is that it's not a lead-generator like so many other real estate sites. You don't have to enter your contact information to get the details, and so you won't be pestered by people trying to sell you their services.

By Elizabeth Razzi  |  June 18, 2009; 6:00 AM ET
Categories:  Buying , Mortgages  
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