Lets talk about Assistance Animals. The Fair Housing Act defines Assistance Animals as "animals that work, assist, or perform tasks for the benefit of a person with a disability, including
Jan 8 2020 61480 1 Closing Costs
You are ready to buy a home and you are hearing those big words "closing costs". So just what are they! Closing costs are the fees and expenses that are over and above the price of the property that the buyers and sellers must pay to complete a real estate transaction.
Most of the fees will be on the buyer. The seller typically will be paying the real estate agent's commission on the sale of the home but all contract's are negotiable so this is not always the case. A seller can also contribute to buyer's closing costs if asked for in the contract and agreed upon.
Let's discuss what closing costs may incur. There is the loan origination fee, discount points, appraisal fees, title searches, title insurance, surveys, taxes, deed-recording fees and credit report charges. Pre-paid costs are those that recur over time such as property taxes and homeowners insurance. The lender is required by law to state these costs in a "good faith estimate" within three days of a home loan application to the borrower. Laws require lenders to provide a loan estimate that shows the closing costs on the property Under the Real Estate Settlement Procedures Act (RESPA).
The closing costs will occur when the title of the property is transferred at closing from the seller to the buyer. At least three days prior to closing, the lender should also provide a closing disclosure statement outlining all closing fees.
Robin Arrow has been a licensed real estate salesperson since 1994. She began her career in Northern CA and has been licensed also in the states of Indiana and Georgia prior to moving to the Texas are....