title: Lesser-Known Fees That Factor into Buying a Home
- 02/15/23 06:32 AM
Many home buyers are not aware of all fees charged that makeup the total cost of purchasing a home. Some of these fees are normally paid prior to closing while others are paid at closing. Fees paid at closing will be itemize on your closing statement which you should receive a copy to review prior to closing. The fees that are lesser known to the general public will be reviewed below: Inspections of property – As a home buyer who is hiring an inspector to perform an inspection on property that you recently signed a written contract to purchase, you need … (2 comments)
title: Know The Important Facts About Title Insurance
- 05/08/18 06:00 AM
Title policy will be required whenever you purchase a home and have a mortgage loan on the property. Normally, the policy is purchased by the seller of the property. Title policy is an insurance policy that protects the homeowner from fraudulent claims made against their ownership, mistakes made in earlier sales, such as, misspelling of names or inaccurate location descriptions of property. The title policy will also protect the lender for defects in the title cause by mistakes made at the local tax office, forged documents, and claims from other parties. It ensures that the mortgage documents are valid and enforceable. … (1 comments)
title: Understanding Deed Restrictions
- 06/18/15 04:09 AM
Many times when you buy property there are restrictions that will prevent you from doing certain things. These are deed restrictions which are written into the property’s deed. These restrictions come in the form of conditions, covenants and restrictions. Many times the restrictions were probably developed by the builder, prior owner, or homeowner associations, etc. The purpose of these rules is to ensure some uniformity between homeowner’s property and neighborhood, restrict certain activities, maintain value and create good relationships within the neighborhood. Deed restrictions can vary widely between neighborhoods and the following list is an example of some restrictions: · Size of … (2 comments)
title: Net Proceeds from Sale of Your Property
- 04/16/14 11:36 PM
Prior to listing your home, a realtor should provide an estimate of net proceeds to the seller based on market analysis of your home. After receiving an offer, revised net proceeds should be provided to you based on the terms of the offer. In each state, the rules and cost associated with selling property may differ, therefore, it is best to employ the services of a realtor who is trained and understands which costs are normally buyer and seller expenses. Also, remember, most expenses can be negotiated between buyer and seller. Following is a list of expenses a seller may experience … (1 comments)
title: Cost Associated With Net Profit
- 01/15/14 10:32 PM
Sellers many times like to estimate the cost to sell their home prior to making a formal commitment. A seller is likely to experience 7 to 8 percent of sales price as the cost to sell their home. Once you make the commitment to sell, you will need to understand whether you are receiving a good or bad offer from a potential buyer. Prior to your receiving your buyer’s offer, you should get an estimated net proceeds worksheet from your realtor. This document should define the estimated cost associated with selling your property. Following are some cost and fees associated when … (0 comments)
title: What is Title Insurance and Who Needs It?
- 10/17/13 12:54 AM
A home buyer who needs a mortgage loan in order to purchase a home will probably be required to purchase a title policy in order to close on the property. The purpose of title insurance is to protect the lender and buyer from claims that might be filed against the property after the buyer has taken possession of the property. If a claim is filed by a third party, then the title insurer will provide protection up to the original amount of the loan. The duty of the insurer is to fight on behalf of buyer, and pay off any claims if … (2 comments)
Many home buyers are not aware of all fees charged that makeup the total cost of purchasing a home. Some of these fees are normally paid prior to closing while others are paid at closing. Fees paid at closing will be itemize on your closing statement which you should receive a copy to review prior to closing. The fees that are lesser known to the general public will be reviewed below: 
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