| When looking to
buy a new home, there are many costs to consider -- moving
costs, legal fees, and even re-decorating expenses. There may
also be additional costs associated with leaving your existing
residence, such as lease penalties, or mortgage discharge fees.
One of the areas where homebuyers
most frequently run into problems is with closing costs.
Homebuyers often do not properly anticipate the costs associated
with closing a real estate transaction, and the resulting cash
crunch can add stress at a time when you need it least.
In addition to your down
payment, there are many other expenses that must be paid on
closing day before your home purchase can be completed. Closing
costs are typically one-time-only charges that are required to
complete -- or close -- the transaction. These costs may include
inspection fees, appraisal fees, title search, lawyer's fees,
and applicable taxes, such as GST. An important component of
closing costs is your proportionate share of property taxes,
utilities etc. that may have already been pre-paid by the
vendor. You should expect to reimburse the vendor for those
costs associated with the period following your closing date.
| There may
be other costs that will be necessary to complete your
transaction, such as the cost of a property survey (click
here for free report on property survey). Your
Coldwell Banker sales professional can help you estimate
closing costs before you commit to an offer to buy a
home. In some circumstances, your real estate
representative may even recommend spelling out the terms
for some of the expenses to be incurred within your
offer to purchase. Good preparation can help make your
closing day trouble free.
Carrying costs, on the
other hand, are those expenses that are routinely
incurred for the ongoing operation and upkeep of your
home. These costs include such items as your mortgage
payment, property taxes, heating costs, home insurance,
utilities, maintenance costs, etc. Your Coldwell Banker
sales representative can help you estimate many of these
costs from the information on the listing. Your mortgage
payment is another cost that can be estimated prior to
making an offer to purchase. Again, your Coldwell Banker
professional can be a helpful source of creative
financing information, and can even help you pre-qualify
for the loan.
Coldwell Banker
customers also qualify for a program that helps relieve
the stress of buying a home with one-stop shopping for a
full range of home-related services. The Coldwell Banker
Concierge program puts you in touch with proven, trusted
suppliers who can save you time or money and help you
with your all home-related needs. It's just one more way
that Coldwell Banker offers Ultimate Service to our
customers. Contact Mike for
more information. |
|
|
