What The Heck Are Closing Costs? True Story!

By
Real Estate Agent with Joe Manausa Real Estate 8508880888
https://activerain.com/droplet/5nJv

What are closing costs when buying a home?

If you are planning to buy a home now, or in the next few months, there are some fees and expenses you’ll need to pay in addition to your down payment that you should know about. Below, I share a story about how a buyer learned all about closing costs (the hard way!).

Real Estate Closing Costs Explained

Other than your down payment, all money you spend when you buy a home are called “closing costs,” and you should know about them ahead of time. Even experienced buyers can be surprised at all the costs that are associated with buying a home today.

This short video will cover what you need to know so that you can (one, be prepared, and two, reduce the amount of money you need when it comes time to close on your new home).


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Joe Wrote The Book On How To Sell A Home In The Digital Age

The digital marketing guide for bricks and mortar businesses

Joe recently wrote "The Business of Getting Business."

It is a comprehensive guide for small businesses to help them understand how to implement digital marketing. For Realtors, it's a guide to using digital as the heart and soul of your marketing.

For those of us who want to survive and thrive in a world where large corporations are taking over, it is a must-read.

You can find "The Business Of Getting Business on Amazon here.

 

 

 

Joe Manausa Real Estate
1934 Dellwood Drive
Tallahassee, FL 32303
(850) 366-8917

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Rainmaker
2,200,672
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Joe Manausa - the video is very helpful to those who don't understood that is is lots of money at closing.

Aug 13, 2020 07:21 AM #1
Rainmaker
1,377,914
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thanks Grant Schneider  , I think closings costs raise the most questions we get from buyers, even experienced ones.

Aug 13, 2020 07:25 AM #2
Ambassador
4,253,052
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Joe:

Great educational video. There are many buyers, even experienced ones, who are not aware of all the additional costs (and what they are for) in additional to the downpayment...and are often surprised at the amount. This explanation is needed well in advance of making an offer so buyers are prepared...especially financially!

Jeff

Aug 13, 2020 09:10 PM #3
Rainmaker
1,377,914
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thanks Jeff Dowler, CRS  . It sounds like we're working with the same people!

Aug 14, 2020 02:48 AM #4
Rainmaker
2,777,837
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

That's a helpful video to educate buyers about closing costs.  I think it is important when we work with buyers, to enlighten them about these expenses, so they are prepared!

Aug 14, 2020 05:03 AM #5
Rainmaker
2,777,837
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

CONGRATULATIONS Joe, on having this blog FEATURED in the Old Farts Club group!  

Aug 14, 2020 05:04 AM #6
Rainmaker
581,069
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

In this area, buyers have to sign an estimated closing costs sheet when making an offer. I always, always go over these figures BEFORE making an offer.  So many are surprised to see that besides the DP, they need an extra $7000 or so for the closing costs. 

Aug 14, 2020 01:04 PM #7
Rainmaker
1,377,914
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thank you Myrl Jeffcoat for the feature!

Aug 15, 2020 05:09 AM #8
Rainmaker
1,377,914
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thanks Mary Hutchison, SRES, ABR, it seems that buyers everywhere have similar experience and similar expectations.

Aug 15, 2020 05:10 AM #9
Ambassador
2,043,305
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

We always include a net sheet in our CMAs with an explainer sheet as to the charges.  It's important to prepare people "prior to closing." That way there are no surprises when they get their settlement statement. Good job with the video, as ususal, Joe. 

Aug 15, 2020 05:42 AM #10
Ambassador
2,043,305
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Aug 15, 2020 05:43 AM #11
Rainmaker
1,377,914
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Amen to net sheets Debb Janes EcoBroker and Bernie Stea JD , it's amazing how many buyers are not prepared ahead of time.

Aug 16, 2020 07:07 AM #12
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