Buying a house for sale is something most people need to financially prepare for. Saving up enough money for a home is a great accomplishment, but, sometimes, hidden costs can take you by surprise, especially if you’re excited about this new step in your life. The real estate professionals at Foxtrot Realty serve the Green Valley Ranch, CO, area and can help guide you through the home buying process.
Here are three of the most common hidden costs you might encounter when buying a house for sale:
Earnest Money: In today’s market, buying a house is more competitive than you think. Sometimes, there are multiple people considering the same house. To secure it and show the seller you’re serious, earnest money might be needed. Earnest money is a deposit given before a down payment that secures the house for you. Once your offer has been accepted, this money is applied to your down payment. However, if you decide to not move forward with the purchase, you risk losing the money.
Home Inspection: Making sure your new home is safe to move into is important, but it can also be costly. Depending on the age of the home, a general inspection, as well as specialized inspections for pests, could cost thousands of dollars. Although the cost might seem high, it’s best to know the condition of the home. After getting the results of the inspection, you might even request that the seller addresses some of the issues.
Closing Costs: Even after you have purchased your new home, there are still some costs you need to be aware of. You can expect to pay anywhere from 2 to 5% of your home’s mortgage loan amount when all is said and done. The total amount differs for each homebuyer but usually includes credit report fees, property taxes, and an appraisal.
Buying a house for sale is no easy feat, but Foxtrot Realty can share their expertise with you to make the process as seamless as possible. If you’re interested in learning more about their homes for sale, give their real estate agents a call today at (720) 277-9219.
Lake Bishop – Broker Owner
#1 Selling agent in Green Valley Ranch
Certified Military Residential Specialist
#denverrealestate #denver #colorado #denverhomes #residentialrealestate #colorado #cityofdenver #coloradorealestate #themilehighcity #denverlove #303 #5280 #denverrealtors #denverrealestateagent #GreenValleyRanch #GVRrealestate #LakeBishop #greenvalleyranchdenver