Friday, January 31, 2014
Thursday, January 30, 2014
- Loan payoff costs. Your loan payoff will often be a little higher than the remaining balance on your loan because of prorated interest. In some cases, you may have to pay a prepayment penalty for paying off your loan before the end of the term. If you have a home equity loan or line of credit, this must be paid in full at settlement as well.
- Transfer taxes or recording fees. These are the taxes imposed by your state or local government to transfer the title from one owner to another.
- Title insurance fees. Sellers typically pay the owner’s title insurance premium.
- Attorney fees, if you have your own attorney represent you at the settlement. Market traditions vary, so while in some areas both the buyers and sellers have their own attorneys, in others it’s more common to have one settlement attorney for the transaction. In some areas the buyer pays the attorney fees, while in others the seller pays.
- Liens or judgments against the property.
- Unpaid homeowner association dues.
- Prorated property taxes and homeowner association dues up to the settlement date.
Tuesday, January 28, 2014
Tuesday, January 14, 2014
Fact: Most of the 10 NFL teams that have gone to the Super Bowl five or more times come from cities with high median home prices. Does this mean there is a correlation between Super Bowl appearances and real estate prices? We have created a graphic to explain this possible correlation. Here is a preview: