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New Year, New Home? 9 Myths About Buying a New-Construction House That Actually Aren’t True

Realtor.com

Getty Images Many first-time homebuyers might shy away from the prospect of buying a brand-new home, assuming: It will cost too much. While purchasing new construction is indeed different from purchasing previously owned property, many misconceptions abound about new builds. New construction homes are more expensive.

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Bad Deals Might Be Good for Business

BAM Media

Your buyer did WHAT in my seller’s new construction toilet that isn’t hooked up to plumbing yet??” Ever say one of these? What do you mean there’s an open conservation commission Order of Conditions on the deed from 1977 and we can’t close until it’s resolved, which could very likely mean we have to push out the closing date.”

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How Much Are Closing Costs in Michigan?

HomeLight

Title search fee $250 Property taxes (May need to pay back buyer) Varies Wire transfer fees $30 Outstanding amounts (utility bills, HOA fees) Varies Compliance fee (paid to seller’s brokerage) $375 Typical seller closing cost total (7%-8%) $15,176-$17,344 *Example estimate based on a $216,800 median-priced Michigan home.

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What Costs Are Involved in Selling My House?

HomeLight

Since Kennedy worked in new construction for 13 years before going into brokerage, he usually does a walkthrough to generate a list of easy-to-fix, low-cost items that should be fixed prior to listing (such as a leaky faucet). Title insurance premiums: Varies. Title search fees: (.05%-1%

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Your Guide to Buying a Home in the Sunshine State of Florida

HomeLight

As far as home styles go, new construction is trending toward a country style, says Raymer. Order a title search. Who customarily chooses the title company can vary by state and even county — but if it is the buyer’s choice, your real estate agent or mortgage lender will likely have a recommendation.

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How Much Are Closing Costs in Nebraska?

HomeLight

Buyers and sellers split some fees: Title search fee – varies according to the home’s purchase price Title insurance fee – varies according to the home’s purchase price Escrow – flat fee of $495 Seller closing costs in Nebraska Nebraska home sellers are required to pay a transfer tax (aka, state documentary stamp tax ) at the rate of $2.25

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How Much Are Closing Costs in California?

HomeLight

809 0.11% Title search fee The title search investigates the property’s ownership to uncover liens, errors, fraud, and other title issues. 390 per hour Property taxes The seller pays prorated taxes for the time lived in the home since the new tax year began until the closing date. of the loan.