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What are Closing Costs?

Windemere Selling

Before a buyer can hold the keys to their new home, and before a seller can celebrate the sale of their property, closing costs must be paid. Learn more about the costs of buying and selling a home here: 10 Costs Associated with Buying a Home 10 Costs Associated with Selling Your Home What are closing costs?

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Short Sale Closing Costs: What Buyers Should Know

HomeLight

For a homeowner, that might look like not being able to make mortgage payments for a period of time. If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. The lender handling the short sale may also agree to finance the buyer, cutting out the mortgage lender search.

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Selling a House in Delaware? You’re on the Hook for These 9 Closing Costs and More

HomeLight

You’ll need to subtract your closing costs to determine how much money you’ll walk away with after the sale. So, what are closing costs in Delaware? In Delaware, sellers typically pay 6% to 10% of the home’s sale price in closing costs. Source: (Sebastian Herrmann / Unsplash). Loan payoff amount.

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Under Contract vs. Pending: A Home Buyer’s Guide to Status Tags

HomeLight

Contingencies while ‘under contract’ Here are some common types of contingencies in residential home sales: Financing contingency: A financing or mortgage contingency safeguards buyers who need to finalize a home loan. If the buyer fails to secure financing, they can withdraw without losing their deposit.

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Insights Into The Maryland Housing Market: Trends And Forecasts For 2024

Realty Biz

While rising prices and mortgage rates present challenges, it’s still possible to find your dream home with the right strategy. Getting Pre-Approved For A Mortgage In a seller’s market like Maryland, getting pre-approved for a mortgage loan should be one of the first steps for hopeful buyers.

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How to navigate the real estate market through seller concessions

Real Trends

Closing cost incentives Closing cost incentives can include owner’s and lender’s fees, escrow or settlement fees, transfer taxes and government recording fees. Home repairs One way of receiving seller concessions is when the seller agrees to pay for the buyer’s repair costs.

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Here’s what first-time buyers need to budget for

Realty Biz

The top regrets listed were all finance-related, including maintenance, mortgage and other costs being too high. First-time buyers are advised that in order to feel more prepared, they should create a budget and consider all of the costs of homeownership. According to the NAR, 23% of buyers waived inspections in August.