Normally buyers are responsible for their closing costs, which are the costs they incur to obtain financing for the purchase of the property. Until last year I would typically get the sellers to pay for the buyers closing costs. However, we are experiencing an extreme seller's market currently where I have seen homes sell for up to $150k OVER list price. When sellers have 25 offers to choose from, they certainly will not consider those that dont have the best terms for them (like paying the buyers closing costs). I am also seeing those with VA financing having a hard time getting a contract accepted and those with buyer's contingency (like when you have to list and sell your current home in order to close on the new property).
Recommend you work with a dedicated buyers agent and they explain what you can expect and your local lender to see how much you should expect to pay in closing costs. Good luck! Spirit
Closing costs are paid according to the terms of the purchase contract made between the buyer and seller. Usually the buyer pays for most of the closing costs, but there are instances when the seller may have to pay some fees at closing too.
For many homeowners, selling their house marks the beginning of an exciting new chapter. But it also creates a tricky situation - finding temporary housing between the sale closing and moving into their next home. This transitional period can range from a few weeks to several months, leaving sellers scrambling to figure out where to live between s
FHA loans are one of the most common types of home loans, especially for first-time homebuyers.
An FHA loan is a mortgage insured by the Federal Housing Administration (FHA). FHA loans are designed to help lower-income and first-time homebuyers by allowing them to purchase with lower down payments and less stringent credit requirements.
There are many reasons why someone would want to learn who owns a specific property. As a buyer, you might want to discover why someone is selling the home. This could help you make a competitive offer based on what you discover.
Investors also look up property records if they want to make offers on distressed or abandoned houses. It might not