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So, You Are Buying A House - Common Expenses to Plan For
So, You Are Buying a House
Common Expenses to Plan For
In the excitement of buying a home many new home buyers do not anticipate many of the other expenses that are involved in buying a home and some Realtors forget or just flat out do not prepare their buyers for some of the other expenses involved in purchasing a new home and if it has been a while since you bought a home some things may have changed. So, it's a good thing to always be prepared when the time comes and not be short.
This is a major expense in purchasing a home and it is due at closing. In Maryland closing coasts in include document stamps, transfer taxes, title insurance and settlement and loan company fees. It is usually a percentage of the purchase price. A good Realtor will often ask the seller for closing cost assistance, depending on your loan type that can be up to 6% and that seller help can off set a lot if not all of these fees.
Unless you are moving from home or have little to no furnishings and personal belongings this could be a major expense too, be sure to shop around ... more
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