I am a top real estate expert. Call me at any of the following #s:252.813.2070 or email me Betty@BettyNormanREALTOR.com
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The costs of buying a home may be daunting. For example, you may have finally saved enough for a down payment on your first home, with a little left over to buy the furniture you will need. Then you hear about having to pay closing costs you weren't anticipating, and this may seem like a real setback.
One way to cover such a shortage is to make the sellers an offer that calls for them to credit you for some of the closing costs. As a rule, the sellers may pay a maximum of 3 percent of the sales price if the buyer is putting five percent down. If the buyer is making a down payment of 10 percent or more, the seller can contribute up to 6 percent of the sales price to cover the buyer's closing costs. Some items, such as prepaid taxes and the first month's mortgage payment, must be paid by the buyers. Sellers may also contribute to paying the appraisal, points, title insurance, settlement attorney fees, state or local transfer taxes and similar items.
Keep in mind that if the credit is included in the price of the house, the appraiser will have to justify the amount, based on sales prices of similar homes in the neighborhood.
Betty Norman Nancy Liipfert Associates, Inc 3709 Westridge Circle Drive Rocky Mount, NC 27804 Direct #: 252-813-2070 Fax: 252-937-7677 Toll Free Voice Mail: 800.384.2716 BettyNorman@NUMBER1EXPERT.com
Experienced, professional service for over 32 years in the Rocky Mount Area. Consistently upgrading her education to better served her clients with standards that are above and beyond. Expect the very best in real estate from Betty!
www.BuyRockyMount.com
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NUMBER1EXPERT in real estate for Rocky Mount, Nashville and Rocky Mount Reservoir, North Carolina
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