Buyer's Reports
Real Estate Buyers Guide, Real Estate Buyers Agent Texas, Tips On Home Buying
Common Closing Costs for Buyers
The lender must disclose a good faith estimate of all settlement costs. A check
to cover your closing costs will probably have to be a cashier’s check.
The title company or other entity conducting the closing will tell you the required
amount for:
Down payment
Loan origination fees
Points, or loan discount fees, you pay to receive a lower interest rate
Appraisal fee
Credit report
Private mortgage insurance premium
Insurance escrow for homeowners insurance, if being paid as part of the
mortgage
Property tax escrow, if being paid as part of the mortgage. Lenders keep
funds for taxes and insurance in escrow accounts as they are paid with the
mortgage, then pay the insurance or taxes for you.
Deed recording fees
Title insurance policy premiums
Survey
Inspection fees—building inspection, termites, etc.
Notary fees
Prorations for your share of costs, such as utility bills and property taxes
A Note About Prorations: Because such costs are usually paid
on either a monthly or yearly basis, you might have to pay a bill for services
used by the sellers before they moved. Proration is a way for the sellers to
pay you back or for you to pay them for bills they may have paid in advance.
For example, the gas company usually sends a bill each month for the gas used
during the previous month. But assume you buy the home on the 6th of the month.
You would owe the gas company for only the days from the 6th to the end for
the month. The seller would owe for the first five days. The bill would be prorated
for the number of days in the month, and then each person would be responsible
for the days of his or her ownership.
Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2005. All rights reserved.
Preston Hollow Real Estate Agent - Park Cities Luxury Estates
If you're in the Home & Real Estate market to buy or sell your home in the Preston Hollow, Park Cities, Highland Park areas, call me. You can rely on my 24 years real estate experience, legal background and local market knowledge. My strengths are service, negotiations, diplomacy and making the home buying and selling process fun and easy for you. I grew up in Dalton, Georgia around my family's jewelry business. I learned at a very early age how to place my clients on the pedestal they deserve. Getting you what you want is my ultimate aim.
Designations, Affiliations, Awards: Certified Residential Specialist; Accredited Buyer's Representative; Certified Luxury Home Marketing Specialist; Certified Home Marketing Specialist, Certified Negotiating Specialist; Founding Associate Keller Williams Elite; Keller Williams International Gold Medalist
BERNICE EDELMAN
Dallas Realtor
Keller Williams Elite Properties
8201 Preston Road, Ste: 265
Dallas, Texas 75225
214-420-3771 Office
214-384-7700 Cell
bedelman@kw.com
 
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