It all comes down to the "Bottom Line" when selling or purchasing real estate. Below are a few of the costs you will encounter during the process and who is responsible for paying them. This list is not meant to be exhaustive or absolute, but is "typical" for the Phoenix, Arizona area.
Realtor Fees -- Seller pays a negotiable compensation to their Realtor and the Seller's Realtor shares that compensation with the Buyer's Realtor.
Earnest Deposit -- Made by the Buyer at time of Contract Acceptance. This is credited toward the purchase price.
Appraisal -- Buyer pays directly to Lender, although a Buyer may request that the Seller cover this cost.
Escrow Fees -- Split 50/50 between Seller and Buyer at closing
Owner's Title Insurance -- Seller purchases for the Buyer
Lender's Title Insurance Policy -- Buyer purchases for the Lender
Inspections -- Buyer pays for any inspection required to complete their Due Diligence during the inspection period (first 10 days after contract acceptance).
Home Warranty -- Either Buyer or Seller. There are several from which to choose with varying coverage.
HOA Tranfer Fee -- Either Buyer or Seller, or Split 50/50
Utilities (water, electric, gas) -- Seller is responsible for having all utilities on until Close of Escrow.
Monsoon Storm Damage to the Roof during Escrow Period (or other "Acts of God") -- If the damage to the property is less than 10% of the value of the home, then the Seller is obligated to make those repairs.
The Rodgers Team is happy to help you find your next home on the water ... or not ... just give us a call when you are ready at 480-420-6657. Serving the Phoenix East Valley area -- Mesa, Tempe, Chandler, Gilbert, Apache Junction, Queen Creek, San Tan Valley.
Author:Sharon Rodgers Phone: 480-420-6657 Dated: June 29th 2015 Views: 119 About Sharon: ...
A successful real estate experience can be one of the most exciting and rewarding events in your lifetime. The exhilaration of a positive buying or selling transaction can't be beat! However, did you know that moving and relocation ranks third on a list of the most stressful life events? With only divorce and death rated as more stressful, it's no wonder that so many people dread moving. Thankfully, there's no need for you to worry any longer. To help make your total real estate experience-from buying and selling to moving-the best it can be, choose our experienced REALTORS® to effortlessly guide you through the entire process. For more than 23 years in the Greater Phoenix Area, we have helped many people just like you successfully make their new home dreams come true. Having lived and conducted real estate in the Valley, we have seen nearly every transaction, and continued to make every closing smooth, efficient, and stress free. With our attention to detail and specialized knowledge of the Greater Phoenix real estate market, you can rest assured that we will provide you with a wonderful real estate experience every time!
The factors that go into purchasing a home are as varied and dive
" initially thought we would start the search process earlier but delayed for a few weeks. Sharon kept n touch during the entire process and even after, always making sure we were ok. We were first time home buyers and Sharon was excellent in explaining every step of the process. We are very grateful that we found her."