Do You Pay Any Fees When Purchasing a Home in San Diego?
How does this whole San Diego home buying process work? Who pays for commissions? What do I pay to buy a house?
Sometimes I’ll get calls about a home and from time to time there will be the question of “What about commissions?” from the buyer. Guess what, it’s your lucky day, buyers out there! You do NOT pay for the realtors commissions, not even a dime when you purchase your San Diego real estate.
Are there fees that you have to pay for? The first 17 days of your escrow is your time to get to know the home. In that time period you will pay for an inspection (roughly $300 depending on the square footage) and an appraisal (roughly $300.00 depending on the square footage). After that you can calmly sit back and wait while escrow and I provide you with lots of paperwork that we walk through with you.
“So is that it for fees?” you ask. No, prior to closing escrow, the escrow officer will let you know the total amount of money that you will have to wire in before closing. That total is your downpayment and “closing costs “. These closing costs can be many things such as document preparation, recording of documents (for more, see the link above). While this can be very confusing, two simple tips for understanding closing costs is to speak with your loan officer and escrow officer, he or she can explain what the costs are and which ones apply or do not apply to you. But my favorite tip is to plan on closing costs of 3%, that way you are already prepared and do not find yourself in a financial pinch last minute before getting the keys to your brand new dream home.
If you have specific questions about closing costs, please contact us.
