Saving up for a down payment is important, but making sure you also save up for closing costs is crucial!
Before diving into the real estate market, many often say to save up for the down payment of the house. People save up for this, but are often surprised when another expenses come their way at the end of the transaction!
These expenses are often ignored due to the down payment taking up the spotlight. What exactly are theses expenses and why are they so important for a real estate transaction?
These unfamiliar expenses are referred to as "Closing Costs." Closing Costs are referred to as"numerous expenses which buyers and sellers normally incur to complete a transaction in the transfer of ownership of Real Estate." What exactly are these costs and what makes them so important? We got a video just for you!
Continuing our "Everything You Need to Know About" series, we have a video that explains all that you need to know about closing costs. By walking through a worksheet with numbers that currently reflect the market, Ronnie explains every single closing cost and the reasons why a potential homeowner has to pay them. We also have the worksheet HERE for you to follow along with the video!
Through our video and worksheet, we hope that you get a better understanding of closing costs and their importance in the real estate transaction. Make sure to check out the rest of our blog posts to learn more about the real estate market! If you're ready to start the process, click HERE to fill out a form and start your homebuying journey today!