12 Extra Costs To Be Aware Of Before Buying A Home
-
Upload
cribbin-realty -
Category
Real Estate
-
view
134 -
download
0
description
Transcript of 12 Extra Costs To Be Aware Of Before Buying A Home
12 Extra Costs To Be Aware Of Before Buying A Home
“ The last thing you need are
unbudgeted financial obligations cropping up hours before you take possession of your new home. “
Your lending institution may
request an appraisal of the property which would be
your responsibility to pay for.
1. Appraisal Fee
Depending on your down-payment and lender you may be required to show
proof that you have paid your taxes
2. Property Taxes
You may be required to get an updated property
survey
3. Survey Fee
Home insurance covers the
replacement value of your home (structure and
contents)
4. Property Insurance
Any new utility that services your hook
up, such as telephone, cable, etc… may require an installation fee.
5. Service Charges
At the closing there will be fees involved
from the title company that
processes your title work and completes
the closing.
6. Title Closing Fees
Depending upon the equity in your home,
some mortgages require mortgage loan insurance.
7. Mortgage Loan Insurance Fee
A mortgage broker is entitled to charge you a fee in order to source a lender and
organize the financing.
8. Mortgage Brokers Fee
The cost for a professional mover can cost you in the
range of $50 - $100/ hour
9. Moving Costs
Condos charge monthly fees for
common area maintenance such
as grounds keeping and carpet cleaning
in hallways.
10. Maintenance Fees
If the home you purchased is
serviced by a well, you should consider having your water checked by your
local experts.
11. Water Quality / Quality Certification
If the town you live in has made local
improvements (such as the addition of
sewers or sidewalks), it could impact a property’s
taxes.
12. Local Improvements