What will we be expected to pay aside from our down payment and what fees are included in closing?
We are looking into purchasing a bank owned pre-owned manufactured home. We are first time buyers and want to clarify what costs we will incur when buying. What costs can we expect out of pocket aside from our downpayment when purchasing? (i.e. is the appraisal included in closing costs, etc..?) We are located in Santa Rosa County, Fl.
Hw,
In most markets, it is pretty common for the Seller to pay all or a portion of Closing Costs. When you get a Good Faith Estimate from a Lender you should have a fairly solid estimate of your Closing Costs so you should try and negotiate that the Seller pay those costs.
You should be prepared to pay for the Appraisal and Inspection (If you have one performed) out of your pocket and prior to Closing. You will also have to put some sort of Earnest Money down when you sign the Contract; however, this will be credited to you at the Closing.
Didn’t find what you were looking for? Ask a question!
More Q&A about Home Buying in Milton
View all »
Ask a question
|
|
|
|
|||||||||||
|
|
|
|
|
|
Fair Housing and Equal Opportunity