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Heather Schelling

Real Estate Vocabulary | pricing Blog

Sunday, April 28, 2019   /   by Dixie Simon

Closing Costs-How They Work and Who Pays Them

Buying a home is not cheap; however, there are costly expenses associated with selling a home as well! But being informed and educated will ensure that you aren’t surprised about any of the fees required when you are in the home selling or buying process. Contrary to what some people may say, it is important use a real estate agent who will help shed light on closing costs and help you know what to expect at all times.
“Closing Costs” is a term used to encompass all the fees that are associated with the loan process. The buyer will pay some of these fees, and the seller will pay some of them. The buyer generally pays for any of the expenses associated with getting the loan for the mortgage and the seller usually pays the real estate agents commission and fees associated with the transfer of the property. Here are some of the fees typically included in the closing costs; appraisal, home inspection and loan application fee, assumption fee, attorney&rsquo ...

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Wednesday, April 24, 2019   /   by Dixie Simon

20 Real Estate Vocab Words You Need to Know

The decision to sell your home can come with a lot of questions. Real estate agents are here to help make the process a little easier. Here are some of the words that you will probably be hearing during this process. I suggest reading through and familiarizing yourself with these words, so you have background knowledge of what they are. Knowing these terms or refreshing them in your mind will give you more confidence in the process.

1. Inspection: A thorough inspection that evaluates the structural and mechanical condition of a property. A satisfactory home inspection is often included as a contingency by the purchaser.

2. Appraisal: A written analysis of the estimated value of a property prepared by a qualified appraiser. Contrast with the home inspection.

3. Closing Costs: Fees paid on the day of closing by both buyers and sellers. These fees cover everything from taxes, lender’s fees, and insurance.

4. Earnest Fees: A deposit from the buyer to the seller ...

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