Remove Equity Remove Finance Remove Inspection Remove Seller concession
article thumbnail

Agent strategies for getting first-time homebuyers across the finish line

Housing Wire

Homebuyers using a variety of mortgage loans to finance their home purchase are eligible to use assistance options to help with their down payment and/or closing costs. This approach is negotiated in the contract; it’s a seller concession to the buyer for a set amount. Let’s use $10,000 as an example.

Agents 425
article thumbnail

Agent strategies for getting first-time homebuyers across the finish line

Real Trends

Homebuyers using a variety of mortgage loans to finance their home purchase are eligible to use assistance options to help with their down payment and/or closing costs. This approach is negotiated in the contract; it’s a seller concession to the buyer for a set amount. Let’s use $10,000 as an example.

Agents 99
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Fees and Costs Associated With Selling a House in 2023

HomeLight

But in focusing on the equity portion, people are often surprised to learn how much it costs to sell a house in the U.S. Decluttering can be done for the cost of sweat equity, though some sellers may need to anticipate costs for junking and storage. You shouldn’t have to pay any fees for the inspection itself.

article thumbnail

How Much Are Closing Costs in California?

HomeLight

Other closing costs generally incurred by California home sellers include transfer taxes , property taxes, and mortgage loan payoff. Common seller concessions include home warranty, home inspection fees, repair credits, and insurance for earthquakes and other natural disasters. The rate could go from 7% to 6.5%

article thumbnail

10 Ways to Reduce the Cash You Need to Buy a Rental Property

Realty Biz

The idea is that you create enough equity when you renovate the property to then take a cash-out refinance once renovations are finished. Fortunately, you can pay for all materials using your credit cards, to finance them. And many contractors nowadays accept credit cards as well, allowing you to finance labor costs with plastic too.

article thumbnail

How Much Should I Budget to Sell My House? Here’s the Average Cost

HomeLight

Cost to seller. Seller concessions. Home pre-inspection. According to Caldwell, today’s buyers look for turnkey homes, not sweat equity. But in Texas, the seller customarily pays for the owner’s policy while the buyer pays for the lender’s policy. Seller concession. Home inspection.

article thumbnail

What Costs Are Involved in Selling My House?

HomeLight

With a degree in finance from Penn State, Delaware agent Michael Kennedy is quick to provide his clients with an Excel spreadsheet that includes net projections. In other parts of the country, expenses vary drastically because of agents’ commissions, state fees, contractors’ fees, or lenders’ requirements for financing. Transactions.