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What If I Can’t Pay Commission at Closing?
Q: My wife and I divorced and had to sell the house. We owed $182,000, sold it for $190,000, which gives the Realtor a commission of $11,400. The bank will get their $182,000, which will leave $3,400...
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Can Realtor Ask for Money Not Included in Closing Statement?
Q: I had a lease to own contract and purchased the house from the seller who is a Realtor. His daughter was our agent since we signed the lease to own contract with her. On the day of the close, the...
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In Short Sale Which Agent Should Figure the Closing Costs?
Q: As the Owner, should my agent fill out an estimate of closing costs or should the Buyer’s agent? We plan to close April 30 and I do not want any stone left unturned. – Marie in Florida A: An...
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Can I Ask For Help With Closing Costs On A Realtor-Owned Home?
Q: I am looking at a home that is Realtor-owned. I don’t have enough funds to cover closing costs. Can you ask the “seller” for assistance as you could in a normal seller to buyer...
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As A First Time Home Buyer, What Are Closing Costs?
Q: What are closing costs and are they in the sale price or extra costs? Who pays them buyer or seller?–Anonymous, Los Lunas, NM A: Buyer and seller each have closing costs. Buyer closing costs are...
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What Are Closing Costs In Ohio?
Q: In Ohio which closing fees are traditionally paid by buyer and seller? –POK, Marblehead, OH A: I like this local Columbus agents link to answer that question. Although some costs are negotiable!...
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Are You Ready to Buy a Home?
Squaredpixels/iStock While it may be acceptable to snap up a pair of shoes on an impulse, the choice to buy a home requires thoughtful planning and decision making. Whether you’re becoming a homeowner...
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Can I Negotiate Closing Costs?
QUESTION: The house I am in the process of buying is $69,000 (a FSBO). It appraised for $70,000. My loan amount shows as $67,740. My lender is asking me for approximately $4,036 to bring to the...
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Sellers Must Pay Closing Costs, Too
If you’re monitoring your home value and maintaining an eagle eye on the remaining balance of your mortgage so you can sell and reap a worthwhile profit, don’t forget to factor in closing costs on...
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How Much Money Will You Walk Away With From Your Home Sale?
As the seller of your home, you are bound to face a parade of taxes, commissions and other fees that could cost 4% to 7% of your sale price. So how will you know how much money you will walk away...
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How to Negotiate Your Closing Costs
At the end of the home-buying process, you will be faced with closing costs, the fees due at signing required to complete a home sale. Closing costs can be expensive, but some of those fees may be...
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Your Mortgage Options to Counter Rising ARM Payments
You signed up for an adjustable rate mortgage (ARM), and for the first few years the payments were relatively low and easy to manage. But now that rate is changing. If your payment is increasing and...
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How to Pay Off Your Mortgage Before You Retire
For most of your life, preparing for retirement means investing. But as the actual date approaches, you also will need to streamline your budget so your expenses will be as low as possible. If a...
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Buyers Beware: Builder Incentives and Seller Concessions
It is easy to be drawn in when a builder or seller offers assistance—or a fun incentive—to purchase their property. When you’re deciding on your down payment and estimating your monthly payments, any...
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Your Proposed Mortgage Rate Isn’t Always the Final One
The mortgage rate first proposed by your lender isn’t guaranteed to be the rate you receive at closing. Mortgage rates change daily, and it takes time for the mortgage process to finish. If you don’t...
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What Does It Cost to Sell Your House?
If you’re thinking of selling your home, you may be counting the profits based on your estimated home value and the balance on your mortgage statement. Before you get too excited, remember that...
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4 Traits of Successful VA Home Buyers
Veterans and service members have access to a $0 down loan program created to expand access to homeownership. However, being eligible for a VA loan and actually getting one aren’t the same things....
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4 Things You Need to Know About the Escrow Process
Once you’ve found the home of your dreams and joined the seller in a hearty handshake, there’s still one more step to complete. That final step is the escrow process, also referred to as closing....
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How Home Buyers Can Lower Closing Costs
It’s closing time: Last call for every entity with even a small role in a home sale to collect their fees. Home buyers—eager to get the keys to their new place—must first cover myriad costs, including...
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10 Questions to Ask Your Mortgage Lender
A house is likely your most valuable asset, so it’s a good idea to know as much as possible about your mortgage before you rush toward closing day. When you meet with a mortgage lender, here are 10...
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