DOES YOUR BUDGET INCLUDE THESE THING WHEN YOU ARE READY TO BUY A HOME

Dated: 07/08/2017

Views: 503

Expenses  Buyers Don’t Expect

SO CREDIT IS READY DOWN PAYMENT & CLOSING COST IS ALSO READY HERE ARE SOME MORE FEES TO EXPECT TO PAY OUT OF POCKET!!!

Ok so you are ready to Buyers need to reserve the equivalent of about 1 percent to 5 percent of a home’s purchase price for closing costs, such as appraisal, lender, and title fees. But that’s only a portion of extra home ownership expenses.

Nearly half of home shoppers say they faced more than $2,000 in unexpected charges during the home-buying process, So do your research it do-sent have to be that way.

Home inspection fee. Home buyers will want to have the home evaluated by an inspector with in 10-15 days of contract, which may cost about $300 to $500. If any problems are detected, they also might need to hire a specialist for further investigation.

Extra cash at closing. Many lenders require purchasers to pay a year’s worth of taxes or the equivalent percentage of the mortgage upfront. The seller may have prepaid any taxes or homeowners association fees, which means the buyer will then have to pay the seller a prorated amount for the remainder of the quarter or year. “Once you’re done with all the fees and the deposits for reserves, you may end up bringing many more thousands of dollars than you thought to the closing,If you have a great Lender on your side he will let you know up front of all these fees so you will not have any surprises sellers can also help you with some of the fees as well towards your closing cost many different options find the right AGENT that will go to bat for you.

Want to Advertise on this Site?

Latest Blog Posts

National Snapshot Hows The Real Estate Market

National Snapshot: How’s the Real Estate Market?The Canadian real estate market is heating up again! After a cooldown in 2018, economists predicted a modest rebound this year. However, the housing

Read More

Everything You Need To Know About IBuyers And The Instant Cash Offer

Everything You Need to Know About iBuyersand the “Instant Cash Offer” Technology is changing the way we do almost everything, and real estate transactions are no exception. In fact, a new crop

Read More

Current Home Values And Market Data In Orlando According To Zillow

Current Home Values And Market Data In Orlando According To ZillowAccording to Zillow,  The median home value in Orlando is $243,200. Orlando home values have gone up 4.0% over the past year

Read More

Congress Votes To Extend National Flood Insurance

Congress Votes to Extend National Flood Insurance ShareDon't expect a lapse—not yet anyway—in the National Flood Insurance Program, the country’s

Read More