Taxes (generally 1% of the property value) - $6000 /year
Improvements (Tax Deductable), Maintanence (non-deductable) - $6000 /year
Homeowners Insurance - ~ 1k /year
Loan Origination Fees - 1-3% (points)
Escrow Fees - Few thousands
Title Ensurance
Taxes the seller has already paid
Inspections - around 1k
PMI - May need to pay in advance
Little Fees - Few hundred dollars
Experience
Negotaion Skills
- Ask: Who does the agent represent?
- Educate us along the way
- Patient
- Explains both sides of the decision
- Voluntarily restrict themselves by location and property types
- Ask: Are you a full time agent
- Has contacts
- Will refer to good service providers with good prices
- Not too busy with other clients
- Never close escrow on monday. Extra interest will be paid.
- Copies of the past few years utility bills (if not new).
- Us
- RE Broker
- RE Agent - if not a broker
- Home Inspecter - may or may not need
- Escrow Broker
- Tax Adviser
- Lawyer - may or may not need