Expenses Every Buyer Should Expect When Purchasing A Home

Dated: 09/21/2017

Views: 185


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.

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