Tips For Reducing Closing Costs

Posted onJune 27/2016By

Congratulations, you’ve bought a property! Chances are you know you’ll have to shell out funds to close the deal, but luckily there are some ways of reducing those costs. What exactly are closing costs? It’s helpful to know exactly what you’ll be paying for upon closing. Some people, especially first time buyers, don’t really know. In a nutshell, most money on closing goes for legal and administrative fees, but there are some other things to be aware of. Lawyer Your lawyer is your best friend after your purchase. They’ll make sure all the i’s are dotted and the t’s are crossed. They do a title search, makes sure you have title insurance, registers the home in your name(s), searches the title, creates a statement of adjustments, oversees finances on closing day and their most exciting job where you’re concerned – gives you the keys to your home! Lawyer’s fees vary…

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3 Tips For Saving Money On Closing Costs

Posted onApril 25/2016By

Closing costs are an important consideration for any future homebuyer. They require long-term analysis and should be an important part of the purchase budget. However, many don’t have a complete understanding on all due closing costs once a purchase has been completed. This can lead to misunderstandings on the way closing costs are handled by the buyer. In this post, our experts will provide their significant guidance with three tips for saving money on closing costs. Analyze All Forms Carefully Before completing the closing forms for your mortgage, ensure that you and your legal representative analyze the forms carefully. Remember: many of the costs included within the agreement can be negotiated. Look for “processing fees” and other costs that might be included within your paperwork. Oftentimes, these administrative fees can be bundled together to reduce your overall expenditure. But because many homebuyers don’t fully understand the costs involved, they simply…

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6 Closing Costs To Expect When Buying A House

Posted onMarch 07/2016By

When buying a property, closing costs can sometimes be an unexpected expense at a challenging time for the buyer. It’s important to go into the home buying process with a clear understanding of the range of closing costs associated with buying properties in Canada. In this article, our specialists explain six closing costs to expect when buying a house. Land Transfer Tax The land transfer tax is calculated as a percentage of the final total purchase price for a property. Homeowners should learn whether their municipal area adds a land transfer tax on top of the provincial tax that they must pay at closing. Toronto, for example, requires that buyers pay both a municipal and a provincial land transfer tax fee. Legal Fees Another significant closing cost to take into consideration when buying a home is legal fees. Most home buyers won’t have experience dealing with all the purchase paperwork,…

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Tips To Sell Your Home For Top Dollar

Posted onFebruary 19/2016By

Choosing to sell your home is not an easy decision. After all, it’s your home. But for many people, their home is also the single largest investment they will ever make. And you really don’t want to go through all the trouble of moving and selling something that is worth so much to you — in financial and sentimental terms — and not get the best possible price for it. This article will list some tips you can use to ensure that you get the best possible price for your home. Research the Market for Comparable Pricing Take a day and spend it checking out the list prices of other homes in your area. At what price are they listed? How do their homes compare to yours? You must be honest and logical here. If you don’t have a good idea of what other homes are going for, you won’t…

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Tips On How To Plan For Your Closing Costs

Posted onJuly 24/2015By

When you know that you are going to apply for a mortgage, it is best to begin saving for the closing costs. On average, closing costs cost anywhere from $2,500 to $6,000. These costs vary by location and other matters that also affect the rate. Fortunately, closing costs are usually the only upfront cash payment that usually needs to be made when a mortgage loan is cleared. What Are Closing Costs For? Closing costs are the fees due in order to close out a real estate transaction. When the title is transferred over to the soon-to-be-new home owner, the closing costs are then due. Closing costs are usually determined between the real estate agents whom are capable of wheeling and dealing at the cost in which you will ultimately be required to pay. Considering that closing costs are almost never optional, it is best to assume that you will need…

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