For Buyers
As a buyer today, it is more important than ever to prepare yourself for the unending list of upcoming decisions. For some buyers, the process becomes so overwhelming that they never make a commitment and then in years to come regret their lack of action. There are also buyers who experience "analysis paralysis." At Fore Peaks our agents are trained to provide you information and guidance to assist in the decision making process; and to accomplish your goal of home ownership.
All Fore Peaks Agents Will...
1. Assure that you see all properties in the area that meet your criteria including:
- Properties available through MLS
- For Sale by Owner
- Foreclosures and short sales
- Properties not officially "On The Market"
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Provide e-mail lists of properties
- If this is a cash purchase, confirming the availability of funds from your financial institution
- Assist with the selection of a lender through interviews and Good Faith Estimate comparisons
- Loan application and pre-approval prior to aggressively touring houses.
- Diligently listening to your needs and wants
- Bring to your attention external impace issues such as road noise, light pollution and future development
- Discuss real estate principles such as 'the smallest house in the expensive neighborhood", buy in the heart of the neighborhood" and the timeless "location, location, location".
4. Work to confirm you don't pay too much for the property by preparing a Market Analysis.
5. Negotiate the offer on your behalf for the best price, terms and conditions.6. Attend your inspections.
7. Review your settlement statement prior to your document signing.
8. Attend your document signing with you (if that occurs locally).
9. Deliver to you the new keys to your new home!
Closing Costs
It is important you prepare for upcoming closing costs and expenses.
(Based upon a $300,000 - $600,000 purchase)
| Description | Paid To | Price Range |
| Loan Application Fee |
Lender | $250 - $500 |
| Appraisal (POC) | Lender | $400 - $450 |
| Loan Origination Fee |
Lender |
.5% - 1% of Loan Amount |
| Underwriting Fee |
Lender | $275 - $350 |
| Processing Fee | Lender | $0 - $500 |
| Miscellaneous Fee |
Lender | $150 -$350 |
| Loan Discount Fee |
Lender | To Be Determined |
| Escrow Fee | Title Company |
$450 - $600 |
| Mortgage Title Insurance |
Title Company |
$600 - $1,000 |
| Recording Fee |
Government | $35 - $ 50 |
| Estimated Closing Cost Subtotal | $3,360 - $9,800 |
|
| Paid Outside of Closing |
||
| Home Inspection | Inspection Company | $295 - $450 |
| Termite Inspection | Inspection Company | $95 - $125 |
| Survey | Survey Company | $650 - $1,600 |
Closing costs can vary depending on the loan program you select. Buyers today can elect to pay a higher interest rate over the life of a loan rather than the closing costs. This is essentially a way to roll some of the closing costs into the loan. This approach only makes sense if you are going to be in the house for a few years. Here is a form you can use to calculate the break even point when making the 'pay or finance' decision. CALCULATING YOUR BREAK-EVEN ON CLOSING COSTS.
Fore Peaks Agents Are Ready To Help You!
All Fore Peaks Agents are trained, experienced and eager to help you make a great real estate purchase. Whether this is your first home, retirement home or an investment property, call on one of our agents today for first class service. Fore Peaks Agents are all Realtors and held to a higher standard through the National Association of Realtors Code of Ethics.
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