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How Escrow Works

Escrow An escrow holder is used to assure your home closes on time and the closing process goes smoothly. When funds are held by a third party in a transaction between a buyer and a seller, it’s in escrow. PayPal is a good example of an escrow company. Settling the last details like taking in funds, finishing forms, getting the documents for loans and …

Tax Closing Costs

Property Taxes This is the one closing cost that is often prorated between the buyer and seller. If the seller has already paid the annual property taxes, the buyer typically reimburses the seller for the period in which the buyer will be occupying the property. Likewise, if the taxes have not yet been paid, the seller typically reimburses the buyer for the period in …

Loan-Related Closing Costs

Loan Origination Fee This covers the administrative expenses in setting-up and processing the loan. The loan origination fee may be a percentage of the mortgage amount. Points (optional) An option for the home buyer is to pay points to lower the interest rate at which the loan will be repaid. Each point equals 1 percent of the mortgage amount. For example: on a $150,000 …

Closing Costs

Expected closing costs There are certain ordinary costs linked to closing the sale of a house. These fees are usually split between the buyer and seller, as instructed in the sales contract. Many are universal, but there are nuances to each, so you’ll want a real estate expert in Massachusetts to help direct you through the transaction.   Loan-related closing costs    (Details) Points (optional) …

Home Buyer Checklist

Massachusetts House Hunting: Things to Look For It’s a given that home buyers – whether they’re first time buyers or experienced homeowners – want to buy their dream house. And, it’s easy to lose sight of your goals with all the homes that seem like good candidates (price, no. of bedrooms, etc.). So, to help you narrow your “possibilities” list from online to the …

9 Steps To Owning

Buying or selling a home? With a little up-front planning, purchasing a home isn’t too complex, but the event is stressful for many people. So you understand exactly what to expect, we like to provide our buyers with a road map of the whole deal. Below are our nine steps to buying a home. Step 1 – Get ready to buy a home Prior …

First Time Buyers

Attention First Time Property Buyers Buying your first house is a tremendous feat. Of course with all the euphoria is also some uneasiness – especially leading up to the transaction. If you’re like most people, you’ll probably want some expert direction along the way — and you’ll definitely need an experienced agent looking out for your best interests. As knowledgeable veterans in real estate, …