appraisal: Buyer's Closing Costs
- 12/21/20 08:25 PM
Ideally, each party will pay their own closing costs associated with the purchase and the sale of a home, but they can be negotiable based on lender requirements and market conditions. The fees are usually paid at the settlement and will be itemized on the closing statement. Buyers should be aware of them before contracting for a home. If a mortgage is involved, the lender will want to verify that the borrower has ample funds available at closing to pay for them. Buyer's closing costs can range between two to five percent of the sales price. The real estate agents should be able … (4 comments)
appraisal: Gifts of Equity
- 11/27/18 05:58 PM
There is a little-known mortgage program that could provide the vehicle for the right person to get into a home. If a person sells their home to another for less than the fair market value, the difference in the appraised value and the sales price is considered a gift of equity for the buyer. FHA requires that borrowers receive gifts of equity only from family members transferring title to the borrower. An appraisal is required to determine the value of the home. The sales price is subtracted from the appraised value to determine the equity to be gifted. If a home appraises for $300,000 … (4 comments)
appraisal: How Was It Measured?
- 08/17/14 03:07 AM
How Was It Measured? In an attempt to compare homes, one of the common denominators has been price per square foot. It seems like a fairly, straight forward method but there are differences in the way homes are measured. The first assumption that has to be made is that the comparable homes are similar in size, location, condition and amenities. Obviously, a variance in any of these things affects the price per square foot which will not give you a fair comparison. The second critical area is that the square footage is correct. The three most common sources for the square … (2 comments)
appraisal: Home Pricing - Finding The Perfect Listing Price
- 06/19/11 12:28 PM
Home Pricing - Finding The Perfect Listing Price If you have been looking around at Aurora home prices you may be a little confused about listing prices in the area. You might find one home that seems relatively equal to another in a different area and see quite a difference in price. A lot of factors are taken into consideration when determining the perfect listing price for your home, and this should be done with the help of your real estate agent. Finding the perfect listing amount for Aurora home prices is a skill as well as an art. Some … (1 comments)
Ideally, each party will pay their own closing costs associated with the purchase and the sale of a home, but they can be negotiable based on lender requirements and market conditions.
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