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out of pocket costs: What They Don't Tell You About Buying Your First Home
- 12/15/20 06:38 PM
From start to finish, here is a list of out of pocket costs for buying a home:
(with real life examples from my past transactions.)
1. EM - Earnest Money. Usually about 1% of the purchase price; in this market even more. It is submitted in the form of a check or wire by the buyer of a home, no later than 48 hours of mutual acceptance of an offer. Or, if your agent is submitting it for you, no later than 72 hours after mutual acceptance.
Example: First time home buyers of mine who bid on a $405,000 house submitted $6,000 earnest money, … (2 comments)
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From start to finish, here is a list of out of pocket costs for buying a home:
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