Value and Professional Services
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Closing or Settlement >The Good Faith Estimate
When you buy a home, you will pay "closing costs" in addition to the down payment. These costs include the "points" you pay on your mortgage loan, title and hazard insurance, the title search, legal fees, and other charges imposed by the lender. These charges vary by state and county, but they usually represent a considerable amount of money.
Your real estate agent can tell you about the closing costs in your area. Ask your agent for some general figures when you begin your search for a new home, and use this information as a guideline. When you apply for your loan, the lender is required to provide you with a "good faith" estimate of the closing costs. The lender's good faith estimate is usually close to the actual amount, since the sales contract will have the price and terms of your new home spelled out. As the closing approaches, your real estate agent will give you a final figure for the check that you will bring to the closing table.
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What does "contingency" mean in real estate?
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A contingency is a specified event that must take place before a home purchase contract is binding; for example, a sale can be said to be "contingent upon the sale of the buyer's current residence." |
 See More Real Estate Trivia > |
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Ron and Diana Dahlberg
1 MONTH REALTY
5703 Springbrook Road
Pleasant Prairie, WI 53158
Office: 262-697-6008
Fax: 262-697-6058
E-Fax: 262-721-0206
Cell: 262-308-3563
kenoshahomesforsale@NUMBER1EXPERT.com
Welcome to the World of 1 MONTH REALTY! When you demand excellence in real estate service do not hesitate to contact Ron and Diana Dahlberg. They are the #1 real estate team in Kenosha, Wisconsin. You get total TEAM Support! They understand your wants and needs. Buyers have confidence in Ron and Diana's professionalism. Call or email Ron and Diana today!    
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