Buyers
Buying a new home...Buying a home can be one of the most exciting times in life, and whether you’re purchasing a home for the first time or a seasoned home buyer, it’s always important to be as educated as possible when it comes to shopping for a home, looking for a realtor and understanding the closing process.
BUYER’S FINANCIAL RESPONSIBILITIES
•There are various costs and fees involved in the purchasing of a new home. Below is a list of costs to account for when buying your home.
•Title insurance premium (according to contract)
•Escrow fees (according to contract)
•Document preparation (if applicable)
•Notary fees
•Recording charges for all documents in buyer's names
•Termite inspection (according to contract)
•Tax proration (from date of acquisition)
•Homeowner's transfer fee
•All new loan charges (except those required by lender for seller to pay)
•Interest on new loan from date of funding to 30 days prior to first payment date
•Assumption/change of records fees for takeover of existing loan (if applicable)
•Beneficiary statement fee for assumption of existing loan
•Inspection fees (roofing, property inspection, geological, etc.)
•Home warranty (according to contract)
•City transfer/conveyance tax (according to contract)
•Fire insurance premium for first year
FAQs
How do I choose the right real estate professional?
What should I look for in a home?
What role does the title company play in the purchase of my home?
What is escrow and why do I need it?
Calculators
Additional Information
What Every Home Seller and Buyer Should Know About Title Insurance