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Shawnna Neill

Shawnna Neill

•  REALTOR? , e-PRO, SFR

Cell: (404) 819-4892   Send Email

Upfront Costs You Will Need Before Buying a Home

 

Before you start to look for your new home, it is important to know that there are up-front costs you will need to have available to purchase your new home.  Below, I have listed the costs, what they are for and the approximate time frame of when you will need to pay them.

It is important to know this information because not having the money ahead of time to pay for these costs, will affect your dream of becoming a homeowner.


Please call or text me anytime if you have any questions!


NEILL, SHAWNNA: EM Explained.jpg 

Is a sum of money paid by a buyer at the time a contract to purchase a home that has been executed by all parties. It shows the seller the intention and ability of the buyer to carry out the terms of the contract.  Normally such earnest money is applied against the purchase price at closing. Often the contract provides for forfeiture of this sum if the buyer defaults. 
Read more about earnest money

 

 

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Is a limited, non-invasive examination of the condition of a home, often in connection with the sale of that home. The inspector prepares and delivers to the client a written report of findings. The client then uses the knowledge gained to make informed decisions about their pending real estate purchase.  
Read more about home inspections

 

 

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Your mortgage lender wants to be sure the home it’s about to loan you many thousands of dollars to buy is worth every penny. That is why you need a home appraisal before finalizing a mortgage loan agreement. The lender will hire an independent certified appraiser to assess the property value of the home for sale. 
Read more about appraisals