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Rylie Schroeder

Answers by Rylie Schroeder

4 answers · 26 pts

Should I install energy efficient appliances before I sell?

Asked by Mary | Richmond, VA | 03-03-2023

Rylie Schroeder
Rylie Schroeder03-03-2023 (3 years ago)

Hi Mary! I think its very unlikely that energy efficient appliances significantly increase your home value. The only way to know for sure, of course, is to contact a local realtor to have them run comps. Good luck!

Should I use a big bank or local home loan officer?

Asked by Kip | Bangor, ME | 03-02-2023

Rylie Schroeder
Rylie Schroeder03-03-2023 (3 years ago)

Hi Kip! I have to agree with my fellow agents here, as my clients always have the best experience with someone local. Not to mention big banks sometimes have longer close times and delayed appraisal timelines due to the sheer volume and scope of business. Good luck!

What's in the closing costs?

Asked by Henry | Bentonville, AR | 03-01-2023

Rylie Schroeder
Rylie Schroeder03-03-2023 (3 years ago)

Hi Henry! Both buyers and sellers have closings costs. When you purchase a home, your closing costs are usually between 3-5% of the purchase price and consist of lender fees (application fee, appraisal fee, origination fees), escrow fees, HOA dues, insurance, etc. As a seller, you are usually responsible for the Title Policy (.5-1% of the purchase price), plus the agent commissions. I hope this helps!

Are second homes taxed differently?

Asked by Janis | Lexington, KY | 02-09-2023

Rylie Schroeder
Rylie Schroeder03-03-2023 (3 years ago)

Hi Janis! The simple answer for this question is yes. Prior to Covid, second home or "vacation homes" were taxed very similarly to primary residences. With an influx in people taking advantage of this during Covid, they created more strict guidelines and purchasing a second home now is going to look more like purchasing an investment property.