Don't forget that there additional costs on top of the listing price when it comes time to actually buy the home. 'Closing Costs' is a term that buyers will  hear as they venture from touring homes to making an offer. Do you realize that closing costs can vary significantly from home to home? you may not even realize that you have a degree of control when it comes to who pays for them.

Overall Costs

Closing costs are usually between 2 and 5% of the purchase price of the home. This will include everything from real estate agent fees to property taxes and mortgage fees.. That's a big spread to work with—especially if the buyer chooses a luxury home!

Mortgage Insurance

Buyers who who do not have a downpayment of 20% of the payment price of the house may be subject to mortgage insurance, This can add on a large chunk of change to closing costs as well as the monthly mortgage.

Title & Escrow Fees

You''ll need to pay a title company to investigate potential secrets of the home that may interfere with the validity of your ownership. This company will work to verify you are [urchasing a clean title.

Lender & Appraiser Fees

It takes a village to help you buy a home so that it is yours and that you have peace of mind upon moving in.

Asking Questions

There are ways to get around paying certain costs by paying attention and having a saavy real estate agent.  Buyers might be surprised at just how much they can lower their closing costs if they just ask for concessions. Sellers may be willing to split the costs or cover them completely if they're in a rush to sell the home. The amount a seller can contribute is capped depending on the type of loan the buyer chooses. There are also ways to waive certain buyer privileges to avoid paying closing costs. So if the home recently went through an inspection independent of the selling process, a buyer may choose use that report instead of paying for a brand new one.

No matter what the closing costs happen to be, buyers are highly encouraged to have them itemized so they can approve each one. While certainly more time-consuming (in what is already a lengthy buying process), it's pivotal for buyers to understand who is being paid for what and why. Ideally, buyers should be doing all of this with the help of a real estate professional who can verify the costs as well.