The first step to beginning this process is to decide your WHY. What is it that you are hoping to accomplish by buying a home? Is it because you’re tired of paying
your landlord too much money every month? Or maybe you’re ready to own a real piece of the pie and live the American dream?
Get crystal clear on your why, and you’ll always have an inspiration to move forward.
“Ann is one of the most professional and personable people I have met. She will go out of her way to make sure you get the best deal in every way, down to the last detail.”
Rachel Lucas
DUE 4 DAYS AFTER CONTRACT ACCEPTANCE
Typically the EMD amount is determined based on the purchase price in our market. It’s common for 1-2% of the purchase price. It can be delivered by wire, cashier’s check, or personal check. This will become part of your down payment and is not an additional fee.
DUE AT CLOSE OF ESCROW
The amount you will need for a down payment is determined by the type of loan for which you qualify. FHA is a minimum of 3.5% whereas conventional loans can range anywhere from 3 – 20%. Ask your preferred lender for options available.
DUE AT TIME OF INSPECTION
We always recommend hiring a home inspector, as you never truly know the real condition of the home from the outside. The cost varies, and details such as size of home and if there’s a pool play a factor. This is.
DUE AT TIME OF APPRAISAL
Like home inspections, appraisal cost varies among appraisers and also due to size of the home. Appraisers are hired by the lender to ensure that the property is worth what they are lending to the borrower.
DUE AT CLOSE OF ESCROW
Closing costs are the fees included for escrow, title and lender services. They range from 2- 5% of purchase price. We go into detail on the next page as to what those fees entail.
Closing costs are the lender third-party fees paid at the close of a real
estate transaction and due at the close of escrow (hint the name). The
buyer closing costs usually total 2% – 5% of the final sale price which may
include but not limited to: Escrow fees, lender fees, homeowners insurance, private mortgage insurance, title insurance, property taxes, recording fees, appraisal fees, homeowners association HOA dues.
© 2024 Ann Werner Realty.
