3 Reasons Why Your Closing Costs Will Vary

3 Reasons Why Your Closing Costs Will Vary

3 Reasons Why Your Closing Costs Will Vary Depending on the Type of Home You Buy

 

Savvy home buyers who are preparing to make a real estate purchase should do their research and understand that they need to save money for not only the down payment, but the closing costs as well.  The closing costs can account for as much as three to five percent of the sales price in some cases, so this can be a rather sizable amount of money.

 

Some buyers however, may not realize that the amount of closing costs can vary considerably based on the home that is purchased.  With a closer look at why this is, buyers can make a more educated decision when selecting a home to purchase.

 

Prepaid Taxes And Insurance

 

One of the most significant closing costs relates to prepaid taxes and insurance, and both of these expenses are directly tied to the location and value of the property.  Consider that the property tax rate can vary based on the city, county, and state.  Real estate insurance can also vary based on the type of construction of the home, if the home is located in a flood plain, and other factors.  These are only a few examples of how the location and property type can impact these fees, and home buyers should consider the costs associated with the tax rates and insurance when selecting a property to purchase.


Third Party Reports

 

There are several third party reports that are commonly paid for at closing, and these include an appraisal, a survey, a pest inspection and a property inspection.  The third party reports may vary in cost based on the size of the home, the amount of land that is being purchased, and even the condition of the property.  Those who want to keep their closing costs lower may consider learning more about how these fees are calculated up-front before finalizing their plans to buy a specific home.

 

Title Insurance Fees

 

Title insurance fees are another typically sizable expense for home buyers, and this insurance offers protection to the lender if the title is not clean.  Title insurance can increase based on the size of the property as well as different factors that are revealed with a title search.  This information can be difficult to learn with an initial home search, but home buyers should be aware that title defects can increase closing costs.

 

The location, size, age and construction of a property all impact the closing costs.  Those who are shopping for real estate may be inclined to make a decision that keeps closing costs down, and they can reach out to their knowledgeable Trusted Advisor | REALTOR® from Martin Real Estate Advisors, a JP & Associates Realtors® Company, for more assistance with their particular situation.  Call or Text "3R" to (469) 262-5411 for more information.


Annette Bruen Headshot
Author:
Phone: 972-977-3221
Dated: August 8th 2015
Views: 623
About Annette: Before making the move to help families realize their real estate dreams, Annette made her professio...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Jan 17 2017 23576 1 - t is crazy to think that we are alre
Top Tips For Avoiding Renting Fruad -  These days there seems to be m
Is This The Year To Move Up To Your Dream Home - It appears that Americans are regain
Is It Still A Sellers Market In North TX - The market is expected to still con

Our Bloggers

Comprar Casa DFW * - 1
Kim Allman - 5
Cara Balderas - 30
Tami Bennett - 45
Jessica Boozer - 18
Rhonda Borgne - 1
Olivia Borowski - 1
Jennifer Boyd - 2
Deborah Boyd - 16
Jamie Brannagan - 1
Annette Bruen - 20
Moira Brunken - 11
Beverly Bryant - 23
Sherry Cabrera - 359
Ana Cantu - 1
Lisa Cardillo - 52
Bob Cardillo - 4
Shea Cargile - 12
Tori Cecil - 3
Lucina Cervantes - 11
Troy Copeland - 11
Gregory Cornett - 2
Angela Cotten - 56
Missie Craig - 12
Greg Cunningham - 2
Leah Ecob - 15
Kristine Edens - 3
Jill Elliott - 99
Laneal Ernest - 9
Nicole Espinosa - 27
Christopher Evans - 1
Heather Feragotti - 8
Mark Fischer - 2
Susan Florsch - 12
Jennifer Flynn - 6
Leslie Fogle - 101
Larry Frassinelli - 6
Chad Gabriel - 58
Malci Gariani - 1
Shalee Garza - 10
Cassie Gillock - 2
Ryan Gonzales - 3
Christina Gonzalez - 5
Wilma Goodwin - 2
William Graves - 5
Sandra Hunt - 70
Bill Hurd - 3
Gary Hutchings - 20
Rachel Jama - 47
Trenton Johnson - 15
Felicia Johnson - 78
Jemi Khan - 26
Leigh Klotz - 5
Amber L Johnson - 7
Michele Lafortune - 22
Wanda Lewis - 2
Mark Linder - 1
Noreen Lodhi - 9
Stacy Lynn Massar - 27
Hiwot Melaku - 1
Jennifer Menting - 17
Mikki Migis - 8
Richard Mikus - 1
Sean Moniri - 21
Naddia Morales - 10
Keith Moses - 9
Mark Mulch - 19
Erick Murphy - 6
Steve Murray - 1
Julie Nicholson - 10
Nikki Okpuzor - 3
Alan Oliver - 7
Kelly Oltmann - 4
Kaysone Orlando - 1
Holli Paddio - 3
Ancy Philips - 7
JP Piccinini - 48
Julie Ann Pickering - 85
Ann-Marie Pope - 2
Joshua Putman - 111
Mimi Rader - 1
Shelia Randolph - 33
Terri Anne Ray - 1
Teneka Ray - 1
Go 2 Girls Realty - 173
Bethany Rowan - 15
Kristi Roy - 1
Kelly Rumney - 9
Amy Jo Saenz - 3
Linda Scardis - 4
Sandy Setliff - 209
Christine Shannon - 29
Rene Sinclair - 27
Shelby Smith - 3
Bryce Smith - 5
Monica Solkhon - 1
Rodrigo Sotomayor - 16
Brent Stack - 1
Jenna Stanley - 9
Kelley Stubbs - 3
Melodie Sulgrove - 1
Seana Taylor - 205
Mary Taylor - 14
Julian Taylor - 17
Erica Taylor - 40
Angela Taylor - 1
Karla Terrell - 2
Joey Thomas - 2
Jason Todd - 24
Andrea Trimble - 55
Miguel Umana - 6
Staci Van Allen - 12
Diane Velez - 17
Debbie Viverito - 132
Nick Walton - 75
Spring Weeks - 8
Michael Worley - 160
Keisha York - 30
Debbie Zurita - 17

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

JP And Associates REALTORS
6175 Main Street #355 Frisco Texas 75034
Frisco, TX
972-375-9448
4692875503

Other Locations