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Frequently Asked Questions |
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1 |
Q |
How much will my closing costs be? |
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A |
When you mee with your lender you must ask him for a good faith
estimate that will explain all your closing costs fees |
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2 |
Q |
What do my closing costs usually include? |
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A |
A. Your closing costs usually include, termite inspection fee,
appraisal fee, survey fee, processing fees, Homeowner’s
insurance, flood insurance, prorated taxes, and origination fees
from the lender. |
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3 |
Q |
What is a Seller’s Disclosure? |
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A |
A seller’s disclosure is a form that will explain anything that
materially affects the property to the seller’s knowledge. |
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4 |
Q |
Can my realtor help me with a buy owner property? |
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A |
Yes usually an owner is willing to cooperate with commission. |
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5 |
Q |
How long does it take to close on a
home? |
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A |
The closing process usually takes 30 days. |
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6 |
Q |
How much is a home inspection and should
I have one? |
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A |
A home inspection usually is $150-$250 and yes you should have
one. |
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7 |
Q |
How can I find out about down-payment
assistance? |
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A |
Talk to your lender and ask if he can offer you a down-payment
assistance program. |
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8 |
Q |
How long do I have to complete all
inspections on the property? |
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A |
Usually you have 10 days after effective date of contract which
is the day the last party signed. |
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9 |
Q |
After a contract is in effect what will
my realtor help me with? |
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A |
Generally speaking your realtor should set-up your home
inspection day, inform you of obtaining homeowner’s insurance,
keep up with your lender and make sure everything is running on
time, make sure repairs are done if need to be made, request for
termite inspection and survey, schedule your final walk-thru and
your closing day, time and place with the closer. |
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10 |
Q |
What must I bring on the day of closing? |
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A |
When time for closing comes around your realtor will inform you
of what you must bring. Usually it is your driver’s license and
your certified check made out to the title company for the
amount needed. |
