When buying or selling a home, there are a lot of terms that can feel confusing at first. One you may hear is home sale contingency. This simply means a buyer’s purchase of a new home depends on their current home selling first. It is a way for buyers to protect themselves financially so they are not responsible for two homes at the same time.
When you hear “closing costs,” it can feel like a mysterious extra bill at the end of buying a home. The truth? Closing costs aren’t a secret fee or some hidden tax. They are just the collection of all the small costs that go into finalizing your home purchase.
What closing costs actually include:
• Lender fees like origination or underwriting
• Title insurance and title search
• Appraisal and inspection fees
Welcome back to the House Types series, where we break down the different floor plans you might come across when house hunting. This week, we’re diving into the split entry and multilevel homes. When shopping for a home, you’ll notice different architectural styles and layouts, each with its own perks. I’m excited to share what makes these two styles unique and what to look for when considering them.
Buying a home comes with a lot of terms, and it can be a lot to keep track of. Earnest money deposit is an important one to understand, and you might hear it referred to in a few different ways. Some people call it earnest money, while others say earnest deposit. Whatever the name, it’s an important step in the buyer’s offer process. So, let’s break down what it means and why it matters.
What It Is
Buying a home is such an exciting journey, but it can also feel overwhelming if you don’t know where to start. Whether you’re a first-time buyer or diving back into the market after a few years, preparation and the right mindset make all the difference. Here are my top tips to help you navigate the process with confidence, starting with my favorite: the 80/10/10 rule.