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
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.