2019 Idaho Real Estate Blog

Closing Costs Breakdown Main Idaho Real Estate Insights

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.

 
Posted by tlangford at 12/24/2018 4:35:00 AM
Comments (0)
No comments yet, login to post a comment.

Michelle Penick, Build Idaho Client Real Estate Services

Michelle Penick

Client Care Team
208.629.0217 | Info@BuildIdaho.com

Contact Agent
Archive
<August 2019>
SunMonTueWedThuFriSat
28293031123
45678910
11121314151617
18192021222324
25262728293031
1234567
Monthly
August 2019
July 2019
June 2019
May 2019
April 2019
March 2019
February 2019
January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
June 2017
April 2017
March 2017
February 2017
January 2017
December 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
June 2006
May 2006
April 2006
March 2006
October 2005
Current Weblogs
There are no blogs in this Group.
★★★★★ 5 stars - "Our experience with Full Sail/ Build Idaho was great from start to finish! "
 
 

INSIDER'S GUIDE
TO MAKE BOISE HOME