I don't typically recommend buying points or paying bank fees. Have your loan officer do the math for you. Example $250,000 loan amount 4.75% = $1304 P& I $250,000 @ 4.875% = $1323 P & I the difference $19 per month - if the cost of the point as an example is an additional $2000 in closing costs, that takes almost 9 years to recover that $19 per month in additional costs.. keep the $... more
Not sure what your question is exactly. The seller has his closing costs (title fees, commissions, pro-rated taxes for the year, HOA fees etc.) and buyer has his own closing costs (mostly loan related costs, but also some title fees, pro-rated taxes, insurance etc.). Your REALTOR and your lender should be able to explain what's what. Sometimes a buyer can ask the seller to pay his closing fees...but you may want to adjust your offer accordingly. Also, a lot depends on what kind of market you're in. If you're in a hot seller's market you may be competing with other buyers who do not need the seller to pay their closing costs. Again, talk to your agent and lender about what your closing costs will be and whether you can get seller to pay those or not.... more
A normal home inspector can address all of those topics. You might want a structural engineer particularly if you're planning to making any major changes like knocking down walls they can address some concerns with the overall integrity of the house that a standard inspector cannot.
The one additional specialty inspection you should get in any house is a sewer or septic inspection.... more
If you are still looking then I've got a couple of lender contacts that could take your info and see if you qualify for KHAP or other programs. Send me an email at KatherineReed@ReeceNichols.com and I will get you in contact with a great lender.... more
A house goes 'pending' when an offer is accepted by a seller and escrow is opened. In the 1st couple weeks all disclosures and inspections are done between buyer and seller to decide to move forward or cancel. Personally I wouldn't look into pending sales too much. I keep a watch over them just in case they come back on the market but your focus should stay on actives.... more