FAQs

Closing costs are expenses incidental to the sale, such as appraisal fees, loan fees, recording fees, etc. They can be negotiated in the contract.

Yes. In today’s hot market, if you are not paying cash for your home, we recommend getting pre-approved with a local lender. You need to be pre-approved and/or have a ‘proof of funds’ letter to be submitted with your offer. Many offers will not be considered without an accompanied pre-approval letter.

Yes, you really need a home inspection. While a home inspection can cost upwards of $500-$1000 depending on the size of the home you are purchasing, we want you to know what you are buying. It is an unbiased evaluation of the physical condition of the home provided by a professional who does not benefit financially from a successful closing.

Earnest money is a deposit the buyer gives when making an offer on a property. If the offer is accepted, the buyer has a certain amount of time (stipulated in the contract) to provide the earnest money via check or wire transfer, and will be credited back to buyer at closing.

Remember this acronym >> PITI. This stands for principal, interest, taxes and insurance – the sum components of a mortgage payment. PITI represents your total monthly mortgage payment, and helps both the buyer and the lender determine the affordability of an individual mortgage.