What should you know if you’re planning on buying a home this fall? Here are three essential tips.
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If you’re thinking about buying a home this fall, there are a couple of things that you should know. When you’re getting ready to buy a new home, keep these three things in mind when it comes to figuring out what your final cost will be:
1. Earnest money. Many buyers don’t realize that they have to put money down in good faith to show the seller that they are ready to move forward with the transaction. A good rule of thumb is to set aside 1% of your purchase price for the earnest money deposit.
Setting a timeline is really important.
2. Inspection money. Depending on the type of property you’re looking at, you might need a termite or well inspection in addition to the regular home inspection. This could run you anywhere from $350 up to $1,000.
3. Set your timeline. This is really important. After the seller accepts your offer, you should plan for an additional 30 to 45 days for closing. If you’re in a lease and need to give your landlord 30 days’ notice, let us know ahead of time so we can coordinate your move and you don’t have to move twice.
There are a lot of ways to make this transition easier. If you have any questions or need any help, we’d be glad to provide our expertise. Give us a call or send us an email today.