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7 Takeaways: Due Diligence Fee and Earnest Money in Real Estate

Raleigh Realty

It's important to note that real estate contracts and laws change depending on what state you are in. It should be noted that not every state uses due diligence fees in real estate transactions, so it is important to consult with your real estate agent so they may educate you on the legal implications of a housing contract.

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Home Appraisals – What Do They Look For?

D Fritz Appraisals

Home appraisers are trained to inspect and measure your property and perform comparisons that result in an accurate valuation for the current housing market. Home appraisals are a vital part of the home buying process as they have a big influence on the amount a lending institution will loan the buyer. Estate settlements.

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Say What? Home-Buying Lingo You Should Know

Zillow

Buyers market : Market conditions that exist when homes for sale outnumber buyers. Cancellation of escrow : A situation in which a buyer backs out of a home purchase. Capacity : The amount of money a home buyer can afford to borrow. Buyers should budget for an amount that is 1% to 3% of the home's purchase price.

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5 Expenses Homeowners Pay That Renters Don't

Zillow

So before you meet with a real estate agent, consider these five costs homeowners pay that renters don't - they could make you reconsider buying altogether. Property taxes. As long as you own a home, you’ll pay property taxes. On average, HOA fees cost anywhere from $200 to $400 per month.

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The Complete Guide to Buying a Home As a Government Employee

Raleigh Realty

With everything from securing a loan to dealing with the home inspection, a home buyer has a lot to handle. Consider Property Taxes When you pay for your home, you'll need to pay other fees like property taxes and insurance. Your neighborhood may require homeowner's association (HOA) fees, too.

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What’s Included in Closing Costs?

PennyMac

At the most basic level, your closing costs are any costs or fees that go over the price for the property you’re purchasing. More specifically, closing costs are fees that you (as the buyer) will pay to third parties who have performed services for purchasing your home. Closing costs can apply to both the buyer and seller.

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12 Hidden Costs When Buying a House

Raleigh Realty

When many buyers consider the cost of purchasing a home, the mortgage payment is typically the expense that immediately comes to mind. Whether you are a first-time home buyer or an experienced buyer, you will want to familiarize yourself with all the costs of buying a home Your Real Estate Agent is not a cost to you as a buyer.