Buyer Expenses

Home Inspection:  Never buy a home without it being inspected by a licensed, insured home inspector!  Prices vary . . . and so does an inspector’s expertise!  Shop around! Get recommendations and quality referrals!

Purchase and Sales Attorney:  It is always wise to hire a legal representative to protect your legal interests.  Use a real estate specialist!

Closing Expenses:  A buyer’s closing expenses consist of two main areas: required and optional.

              Required expenses:

                            Replacement Insurance – 1 year paid in-full

                            Taxes – usually 3 months in advance (paid at closing)

                            Closing Costs – These include all of the costs associated with

                                          closing your loan (attorney fees, document preparation,

                                          title search, overnight deliveries, etc.).  The closing

                                          attorney will be able to itemize these for you approximately

                                          2 days before closing.

              Optional Expenses:

Points – A point is equal to1% of your loan amount.  They are usually paid to secure a lower interest rate.

Additional Downpayment – 100% financing is always available, however, the more you put down the lower your monthly payment!