Real estate closing costs can quickly add up for the buyer and the seller. Closing costs can include the cost of the land survey, broker’s fees, taxes, attorney’s fees, utility fees, homeowners association fees and inspection fees. The list can be much longer and the amount of the costs will vary widely. Get more information here about various closing costs and real estate transactions.
Do You Need a Closing Attorney When Buying a Home?
Do you need a closing attorney when buying a home? Closing attorneys facilitate real estate transactions but they can’t give legal advice on the deal. Q: I'm a little embarrassed to ask this question, but do I need to hire an attorney for closing? I'm a first-time homebuyer purchasing a new construction home and I [...]
Real Estate Closings and COVID-19
Real estate closings and COVID-19. Electronic signatures and remote online notaries could assist with closings during the coronavirus pandemic if the system adapts. Q: I’m in the process of closing on the sale of a home. I was able to do all the document review electronically, but as the settlement approaches (in a few days), [...]
Real Estate Insights on Commission Splits and EBAs
Real estate insights on commission splits and exclusive buyer agents. Real estate market insiders give their take on trending topics. Over the past few weeks, we’ve had several responses to columns that have run, especially the one that explained in greater detail how real estate agent and broker commissions work. Real Estate Insights on Residential [...]
How Much Commission Do Real Estate Agents Make?
How much commission do real estate agents make? Research shows a lack of commission rate transparency and negotiability at traditional real estate firms. Please note that this story has been updated to add in additional information that shows how real estate commissions get split between brokers and the real estate agents who work for them. [...]
Is My Real Estate Agent Doing a Good Job?
Is my real estate agent doing a good job? This reader feels like their agent didn't fully explain the process of selling their home and all their options. Q: I sold my dad’s house late last year and feel like I was taken advantage of by my agent and my real estate attorney, who was [...]
Expert Real Estate Tips: Estimating Mortgage Fees
Mortgage loan borrowers should expect to pay mortgage fees between 1% and 2% of the mortgage loan amount. Mortgage fees depend on the mortgage loan amount, mortgage loan type, interest rates and when in the month you closed on your home. Watch this Expert Real Estate Tips video for more information about mortgage loan fees and how to estimate other costs associated with mortgage loans.
Maintain Property’s Market Value In Property Swap
When you buy property at a reduced cost, will you risk lowering the market value of the property? A home owner asks about buying a property for less than what it's worth and selling his own property for a lower price. It's a good idea to work with an attorney to complete a property swap.
Don’t Be A Victim Of Mortgage Fraud
If you're worried about being a victim of mortgage fraud it helps to be familiar with closing documents. If you know what to look for on these documents you can avert mortgage fraud. Knowing what you're signing can save you money and protect you and your family from mortgage fraud.
Seller Pays Closing Costs
A homeowner who has put his home for sale says his real estate agent suggests that the homeowner pay closing costs. When you've got a home for sale there are many ways to differentiate the home for sale.
Closing Costs May Vary
Closing costs vary for numerous reasons. However, if your lender is quoting you a fee that seems high, you should shop around and compare closing costs from other lenders.