costs: Explanation of Home Closing Costs
- 02/06/20 06:35 AM
When buying or selling your home all buyers and sellers incur closing cost associated with the transaction. Normally, closing cost (need to include commission and if 5% down payment) are about 8% to 12% of the property purchase price depending on the type of transaction, other than full cash transaction which may be less. Shortly after signing a contract between a buyer and seller of property, many lenders are willing to provide a good faith estimate of proceeds involved in the transaction. Your real estate agent should be making that request for their client. The final closing disclosure of cost should … (1 comments)
costs: Housing Costs Than Can Cause Havoc with Family Budget
- 04/26/17 06:30 AM
When purchasing a new home or living in your current home there will be unexpected expenses that occur that may put stress on the family budget. Planning, researching, and having financial reserves for unexpected occurrences are key elements that need to be practiced in order to prevent financial disaster. Areas where you need to practice conservatism to some degree: Home improvements – It is human nature, want to make improvements to your new home, or a home that is in excellent condition. The reason for this, the desire to make the home uniquely yours, or give it a new look. Need … (1 comments)
costs: Key Factors When Negotiating In Real Estate
- 05/13/13 12:48 AM
Everyone wants to be successful in the real estate marketplace. The transaction process is unique, and can be very complex. Both buyer and seller desire to have a favorable outcome in which they feel they were successful in the negotiating process. Each party to a contract needs to develop a strong bargaining position so they can realize the most from the transaction. Following are keys that will help you when negotiating:
· Determine the market environment – Is it a buyer or seller’s market, or is it an environment where supply and demand are about equal? It is better … (3 comments)
costs: Understanding Good Faith Estimate
- 05/21/12 01:13 AM
Understanding Good Faith Estimate Some home buyers do not understand the cost that is associated with purchasing property, and this may cause them to pay higher origination fees and closing costs. In this article, I will try to explain the importance of a Good Faith Estimate (GFE), and how it can help the home buyer. The whole purpose of the GFE is to identify the estimated cost associated with purchasing a house, and your estimated monthly mortgage payments. In my opinion, prior to making an offer you should have in your possession a worksheet that reflects this important information. The GFE … (0 comments)
When buying or selling your home all buyers and sellers incur closing cost associated with the transaction. Normally, closing cost (need to include commission and if 5% down payment) are about 8% to 12% of the property purchase price depending on the type of transaction, other than full cash transaction which may be less. Shortly after signing a contract between a buyer and seller of property, many lenders are willing to provide a good faith estimate of proceeds involved in the transaction. Your real estate agent should be making that request for their client. The final closing disclosure of cost should … (1 comments)
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