What Fees You’ll Have to Pay to Facilitate a Real Estate Transaction
When selling a home, some fees are involved for the transaction to be legal. You will have to pay a range of fees when buying real estate.
You will have to pay a notary fee when selling real estate. These fees are there for a notary public to certify the sale is legal and all the documents used are filled out in accordance with all the rules of the law.
Real Estate Transfer Tax
Next, you will have to pay a real estate transfer tax. This tax covers the property deed transfer from the seller to the buyer. This fee is generally paid to the local county that handles the official change of ownership.
If you are getting a mortgage, you will likely be required to get a home inspection. Even if you purchase the home with cash, getting a home inspection is still smart. It gives you a deeper understanding of the property’s condition.
Many lenders will choose you an origination fee. You will pay this fee to obtain the loan you need to purchase the property.
Another fee you will have to pay is an earnest deposit. This percentage of the final purchase price shows that you are serious about purchasing the property.
Finally, there are escrow fees. An escrow service is what you will use to hold your earnest payment until the funds are transferred when the transaction is completed.
These are some of the primary fees you will pay when you engage in a real estate transaction as a buyer.
If you are considering buying Greenfield area new homes 80016, contact Re/Max experts for exceptional service and support.