IK Realty Team

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IK RealtyTeam - Realty Executives Today

IMRAN KHAN | Buying, selling, or lost in the market? A Handshake, Not Just a Handoff: Your Journey Starts with Trust Forget pushy salespeople and robotic transactions. I'm Imran Khan, and I believe real estate is about forging genuine connections, not just closing deals. Since 1996, I've been a licensed Realtor in New York, but more importantly, I'm a...

CLOSING COST: are the fees and expenses you must pay when finalizing a real estate transaction, typically due at the closing of the sale. These costs are in addition to the down payment and can vary depending on the price of the home, location, and the terms of your loan.

🔹 Typical Closing Costs for Buyers:
✅ Loan-related fees – Application, underwriting, and processing fees charged by the lender.
✅ Appraisal fees – Cost of the home appraisal, to determine the value of the property.
✅ Home inspection fees – If you had the home inspected for issues.
✅ Title insurance – Protects against any ownership disputes.
✅ Attorney fees – In some states, an attorney may be required to oversee the closing.
✅ Property taxes – You may need to pay part of the annual property tax amount upfront.
✅ Recording fees – Fees for recording the property transfer with the local government.

🔹 Typical Closing Costs for Sellers:
✅ Repairs or concessions – Costs for any agreed-upon repairs or credits to the buyer.
✅ Title fees – Cost of transferring the title to the new owner.
✅ Unpaid property taxes or liens – Any remaining taxes or debts tied to the property that must be cleared.

IK RealtyTeam - Realty Executives Today

If you're considering buying among the bidding wars of the 2021 housing market, you might feel intimidated. But there are great reasons to still buy that dream house.

IK RealtyTeam - Realty Executives Today

Will the Housing Market Crash in 2024? Interest rates remain high, and the market is still competitive. Does this portend a market crash soon?