1. Earnest Money - Earnest money is basically a buyer’s proof that they “earnestly” want to purchase the home. It is held in escrow until the closing and if used toward the purchasers funds for closing. There is no standard amount to pay unless a request has been made on the property listing.
2. Down payment - A down payment is the portion of the loan that a purchaser pays upfront. Down payment expenses can run from 3% to 20% of the purchase price. There are also programs that make it possible to buy a home with no down payment, if you and the property both meet the loan requirements. The best way to find out home much money you will need for your down payment is to speak with a loan professional.
3. Closing Costs - These are fees paid at closing that are usually associated with a borrower's real estate transaction. They are expenses, over and above the price of the property. The amount is determined during the preparation of the final numbers by the title company that will close your transaction.
4. Appraisal Expense - An appraisal is an estimate of the true fair market value of a houses worth at a certain time. The fee for an appraisal depends upon the type of loan you are obtaining, they can range from $400 to $2500.
5. Moving Expense - This is an expense that can't be set in stone. This expense is determined by the amount of items that you need moved. The most efficient way to complete this is to hire a local moving company that is insured and can guarantee a safe and complete delivery of your items.
Comentarios