Laguna Mission Bay Homes For Sale
What Are the Closing Costs of Buying a Home in Laguna Mission Bay
- Have you made a decision to buy a home in Laguna Mission Bay?
Synergy works even in real estate. As Helen Keller once said, “Alone we can do so little, together we can do so much.” When you get help from experienced people, you acquire better strategies and results.
The huge and sophisticated houses of Laguna at Mission Bay are a product of synergy. These homes feature cathedral ceilings, walk-in closets and split bedrooms. They are houses that people dream of!
It’s a product of a rich, fascinating history of teamwork and extraordinary success. Being one of the ten villages of Mission Bay in Boca Raton, the neighborhood of Laguna Mission Bay is ready to accept everyone from young home buyers to growing families to snowbirds. So if you’re thinking of settling in Laguna Mission Bay, perhaps, your family is growing and you need a bigger space, there’s no better time to check out the houses on the market than now. This is also the best time to ask questions about buying a home.
What are the closing costs associated with buying a house?
One of the most frequently misunderstood areas of buying are about closing costs. Many are clueless of this information and may not know whom to get help from.
We have your back. Below is an itemized list of the typical expenses and when you need to pay them:
1. Mortgage application fees. This fee is charged by your lender for a loan application. Ask if this is something you need to pay before or after closing by you as a buyer.
2. Inspection and appraisal fees. These are what you pay when you’ve had your house appraised and inspected to know the value and to make sure that it’s free from pests and termites.
3. Brokerage commission. Paid by the seller to the broker at closing.
4. Survey, Title search and recording fees. Paid either by you or the seller.
5. Property taxes are the prorated taxes paid by both the seller and the buyer.
6. Home warranty is also another typical charge you can pay but in some cases, the seller or even your REALTORⓇ pays for it.
7. Home Insurance. This is different from a home warranty. You can pay this straight to the insurance company before or as part of the closing process.
8. Points. This is a fee to reduce the interest rate of your loan.
You will receive a Closing Disclosure before the transaction goes through and this will contain the amount of the loan and actual closing costs. Reports show you are usually charged between 2% to 5% of the buying price depending on your county and state. In some places, you can ask the seller to cover some of the expenses but they are not obligated to pay them, it has to be negotiated.
These are several of the expenses and fees that you can expect to pay. There are many other fees under escrow and one time expenses as well.
Work with Kristi Ramella, the REALTORⓇ who has the answers in Laguna Mission Bay!
In case you can not view this video here, please click the link below to view What Are the Closing Costs of Buying a Home in Laguna Mission Bay? on my YouTube channel: https://youtu.be/RJMritoSwyc.
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Kristi Ramella - Real Estate Agent | Signature Florida Real Estate - 7431 W Atlantic Ave, Suite 49 Delray Beach, FL 33446