BAM Media

DECEMBER 19, 2024

Sellers remain confident in their ability to move properties quickly, with 72% expecting to close within 4 months or less.

Marketing

Redfin

JULY 18, 2025

This Redfin Real Estate article outlines practical steps every buyer should follow, from budgeting and touring homes to inspections and closing. Closing costs In addition to your down payment, plan for closing costs , which typically range from 2% to 5% of the purchase price.

Pre-approval

The Living Room

MAY 2, 2025

Prospective buyers should account for closing costs, inspections, and the ongoing maintenance associated with homeownership. The Path from Offer to Ownership: After your offer is accepted, the inspection period offers a critical look at your prospective home’s condition.

Earnest money deposit

Redfin

JUNE 27, 2025

Don’t skip critical steps like the home inspection or negotiating closing costs. Take note of closing costs, loan terms, and any additional fees. Missing out on first-time homebuyer programs Between saving for a down payment and covering closing costs, buying a home can feel financially overwhelming.

Pre-approval

Lighter Side of Real Estate

APRIL 29, 2025

Here are some common examples: Money toward closing costs A seller might agree to cover part (or all) of the buyers closing fees, which can be thousands of dollars. While the reasons for offering concessions can vary, one thing is clear: theyre becoming more commonand not just in response to inspection requests or minor fixes.

Seller concession

HomeLight

DECEMBER 26, 2024

Next, the home inspection notes your roofs age and other minor repairs needed, so now the buyers demanding a roof credit and other concessions. And just when you think the deals finally done, the buyer abruptly asks that you cover all closing costs.

Closing costs

Windemere Selling

MARCH 3, 2025

4 Account for Hidden Costs In addition to the purchase price of the home, there are additional costs you need to take into consideration, such as closing costs, appraisal fees, and escrow fees. Now, divide the list into must-haves and nice-to-haves. #4 Determine how much youll pay in taxes monthly and/or annually.

Pre-approval

Redfin

JULY 31, 2025

Skipping the home inspection or even small oversights can delay the closing date or have long-term consequences. Additionally, set aside extra savings for closing costs, moving expenses, and any home updates or repairs you may need right away. Compare interest rates, closing costs, and loan terms carefully.

VA loan

Redfin

JULY 15, 2025

This Redfin guide is here to be your checklist, breaking down the upfront costs you’ll need to cover to actually close on your home and make it yours. From inspections to closing fees, here’s what you should know (and plan for) before you get the keys. Closing costs So, what are closing costs ?

Closing costs

Redfin

JUNE 23, 2025

In real estate, the due diligence period is the time between an accepted offer and closing. You can schedule inspections, review the title, secure an appraisal, and check for any red flags that could affect your decision to buy. This timeframe grants the buyer permission to thoroughly inspect the property.

Due diligence

Redfin

MARCH 4, 2025

Combine inspections. If you want to inspect for lead, oil, or other specific issues, consider looking into these as part of a general inspection contingency, rather than including separate contingencies for each one. In a competitive situation, you can ask to do a pre-inspection of the home. Do some homework up front.

Pre-approval

Redfin

MARCH 11, 2025

Its credited back to the buyer at closing: If the deal moves forward, your earnest money is applied toward your down payment or closing costs. However, if you back out of the deal for reasons not covered by contingencies (such as inspection or financing), you may forfeit the earnest money to the seller.

Earnest money deposit

Redfin

AUGUST 15, 2025

Schedule property inspections Home inspections are a critical part of moving the home-buying process along and serve as a great protection for buyers. Schedule home repairs If your inspection uncovers some necessary repairs, you have a few different ways you can approach it.

Earnest money deposit

Redfin

AUGUST 6, 2025

Tackle repairs Your agent will flag items that could be red flags during a buyer’s inspection. Get a pre-listing inspection (optional but strategic) In hot markets, some sellers opt for a pre-inspection to uncover potential issues and price accordingly. Addressing these in advance can reduce renegotiation headaches later.

Staging

The Close

NOVEMBER 25, 2024

When looking into your finances, consider the following factors: Closing costs: These are generally 2% to 5% of the property’s sales price and include lender fees, title insurance, property insurance, and property taxes. The higher the home’s sale price, the higher your closing costs.

Purchase and sale agreement

Redfin

JULY 29, 2025

It’s a one-time fee, usually paid before closing. Inspection fee An inspection helps you spot problems before you commit—like structural issues, pests, or outdated systems. A basic home inspection usually costs $300 to $600 , but extras like radon, mold, or sewer line checks can add $75 to $500 more.

Inspection

Redfin

JUNE 27, 2025

Seller concessions refer to closing costs or other fees that the seller agrees to pay on the buyer’s behalf. For example, a buyer might ask the seller to pay $5,000 toward their closing costs. If agreed, this would be included in the contract and deducted from the seller’s proceeds at closing. Are they negotiable?

Seller concession

Marco Santarelli

DECEMBER 22, 2024

Always compare the total costs, including closing costs and any potential fees. Confirm that the savings exceed these costs. How much does a mortgage refinance cost? Costs can range from 3% to 6% of the mortgage amount, which includes fees for appraisals, inspections, and documentation.

Mortgages

Redfin

JULY 9, 2025

You may have saved enough for your down payment, but make sure to also account for closing costs, taxes, insurance, and any other unforeseen expenses that may arise. Rule of thumb: Aim to spend no more than 28% of your gross monthly income on housing costs, and keep your total debt payments under 36% of your income.

Pre-approval

Redfin

JULY 31, 2025

State and local programs: Cities and states may offer down payment assistance, forgivable loans, or closing cost help. Fannie Mae’s HomePath Ready Buyer Program : This offers up to 3% in closing cost assistance when purchasing a HomePath property and completing a homeownership course.

Purchase and sale agreement

Redfin

JULY 10, 2025

Earnest money is a refundable deposit held in escrow to show your serious intent to buy, while due diligence fees are usually non-refundable payments made directly to the seller to secure time for inspections and evaluations. >> Read: What Happens to Earnest Money as Closing? Is it refundable? It usually ranges from 0.1%

Due diligence

Redfin

JANUARY 10, 2025

The costs and scope of these upfront costs will vary depending on the type and condition of your property, but some major costs to consider are pre-sale home inspections , making repairs or upgrades, home photography, and staging. These fluctuations come from changes in supply and demand.

Seller concession

Windemere Buying

JUNE 23, 2025

Start Saving You’ll want to have enough set aside not only for a down payment, which is typically 3% to 20% of the purchase price, but also for closing costs, moving expenses, and initial home repairs or furnishings. Check your credit report for errors and work on improving your score if needed.

Pre-approval

Rochester Real Estate

NOVEMBER 5, 2015

This involves making a careful budget that includes potential costs like the down payment, closing costs, taxes, and possible renovation expenses. Once you’ve found a home, you’ll need to make an offer, inspect the property, and navigate the closing process, which may involve legal nuances specific to New York.

Purchase and sale agreement

Redfin

MARCH 18, 2025

It can cover part of your closing costs. If your down payment is already covered, the earnest money can help pay for lender fees, title fees, and other closing expenses. If your earnest money exceeds your total costs due at closing, youll get a refund for the excess amount. You may receive a refund.

Closing

Redfin

FEBRUARY 24, 2025

Unexpected expenses: Unforeseen challenges, such as discovering hidden underground utilities, can lead to additional costs. Financing and closing costs: If you’re financing the land purchase or construction, anticipate paying 2% to 5% of the loan amount in closing costs. is $419,200. through 2025.

Debt-to-income ratio

Redfin

AUGUST 6, 2025

Some things to do are: Check your credit score and credit report Improve your credit score and reduce debts if needed Determine your monthly budget and household expenses Save for a down payment and closing costs. Remember, you’ll still have to save for closing costs, which can be 5% of the purchase price.

Pre-approval

Redfin

JUNE 17, 2025

This delay is the result of the due diligence period, where the buyer will conduct inspections and other research before actually signing any papers. For example, if the home inspection reveals extensive repairs, the buyer may be able to terminate the agreement due to a home inspection contingency.

Closing

Redfin

MARCH 4, 2025

Pre-listing home inspection As the seller, it may be helpful to get an inspection of your home done before selling your home , though in most markets the buyer will pay for a home inspection and most states do not require a pre-listing home inspection.

Purchase and sale agreement

Redfin

JULY 14, 2025

The money is held in escrow and is typically applied towards the buyer’s closing costs or down payment. Performing unauthorized inspections or repairs. These include financing, home inspection, and appraisal contingencies. Example scenario: The buyer waives the inspection contingency to make their offer more competitive.

Earnest money deposit

Marco Santarelli

AUGUST 5, 2025

Consider All Costs: Don't just focus on the purchase price. Factor in closing costs, potential repairs, property taxes, and insurance when determining your budget. Don't waive inspections!: Get Pre-Approved: Before you start seriously looking, get pre-approved for a mortgage.

Marketing

HomeLight

APRIL 30, 2025

Get Started What to know about closing costs and commissions Sellers in Alabama can expect to pay several typical closing costs when their home sells, but Hyatt notes that the fees are relatively fair compared to many other states. The biggest cost is usually the real estate agents commission.

Sales

Marco Santarelli

JULY 17, 2025

Buyers have more time to explore their options negotiate terms, and conduct thorough inspections. Negotiating Power: Savvy buyers can capitalize on the shifting market dynamics by negotiating price reductions, requesting concessions, or asking for closing cost assistance. However, it's not all sunshine and roses for buyers.

Marketing

Redfin

JUNE 13, 2025

Account for extra expenses like closing costs , moving fees, and potential home improvements in your budget. Just keep in mind that this means managing multiple loans and additional closing costs. Keep key protections like a home inspection or appraisal when needed. Step 2: Sell first or buy first?

Debt-to-income ratio

Redfin

JULY 1, 2025

A seller’s credit, also known as a seller concession, is a financial agreement where the home seller agrees to cover some of the buyer’s closing costs. Rather than lowering the price of the home, the seller contributes a credit at closing to help reduce the buyer’s upfront expenses. What is a seller’s credit? Not exactly.

Purchase and sale agreement

HomeLight

MAY 14, 2025

When you make the statement, We’re selling a home as is, what you’re saying is, We don’t want to do any negotiation or inspection or repairs. These companies can help sellers cash out quickly, and many will cover a sellers closing costs.

As-is

Redfin

JULY 31, 2025

From your expected sale price, subtract: The full mortgage payoff amount Real estate agent commissions Closing costs Any unpaid taxes, liens, or HOA fees Repair credits or buyer concessions What’s left is your net proceeds—the money you’ll take home, if all goes well. When offers roll in, don’t focus only on price.

Mortgages