Some agents charge fees on top of their commission. I’ve heard of agents charging transaction fees, cancellation fees, and even fees for photos. Before you decide who the best agent is, you need to know what you’re going to be charged.
Like our team, some agents simply charge you a commission with no additional fees. Because we aren’t charging you these fees, we don’t get paid until you sell your property.
As a homebuyer, when you get to the closing table, you’ll need to pay closing costs to complete the purchase of your home. The good news is, there are ways to reduce those closing costs.
For example, you can ask the seller to provide a closing cost credit. In reality, you’re wrapping those costs into your mortgage, but it still reduces what you’ll have to pay at the closing table.
You can also elect to close at the end of the month (or as close to the end of the month as you can). If you close on the 6th you will have to cover 24 or 25 days of prepaid interest. If you were to close on the 28th you would only have to pay two or three days. The closer to the end of the month you close the less money you will need to bring to the table because you will pay less in prepaid interest.
Lastly, if you’re a veteran or active-duty member of the Armed Forces, you can get benefits through your VA loan.
If you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.