Avoid Unexpected Transaction Costs
Monday, January 25, 2010 | Comments Off
When looking at the real estate purchase contract, most buyers focus on the sales price – but the price isn’t the only factor that determines the bottom line. Is a bargain really a bargain if the buyer is paying all the transaction costs?
Before you decide to go with a great price, make sure you know the transactions costs and who will pay for what. Typical costs include a home inspection, a termite inspection, title and escrow fees, transfer taxes & recording fees. These costs vary grealty around the country. Who pays for what can be negotiated, and sometimes the customary local practice is applied.