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    Financing Santa Clarita Valley Real Estate, Don’t Forget About Fees

    Loan and charges for Santa Clarita borrowing of money

    When buying a home – there are fees involved.  It has been a while since we have visited who pays what – but now is as good a time as any.

    When buying a home you have something called “closing costs”.  We did a big write up on one of our Santa Clarita blogs talking about closing costs – click here to read.  Today, we will go into less detail and give you the skinny about who pays what.

    If you are a Santa Clarita real estate seller, you are going to be faced with paying both the agent you are hiring to represent you in the sale of your home and the agent that brings the buyer to the home you have for sale.  As a Seller – you are also paying your part of title and your part of escrow.

    How much is that total? – Somewhere around 8% – don’t freak out – that’s negotiable – so hit up your real estate agent of choice and see what they charge.  The Better they are and the more of an On-Line presence they have – they can demand more in commission amounts because that is where over 90% of people are searching for real estate.  Giving your property a much better advantage when listing it with a Top Producing on-line exposed real estate agent. But I digress 🙂

    If you are a Santa Clarita real estate buyer, you are not paying your agent’s commission(our commission 🙂 ) – you are only paying your part of Title insurance, your part of the escrow fee’s and your lender. – AH HA – the Lender – have a read below about Lender Fee’s and make sure you reach out to us when you are ready to connect with one – we work with the BEST Santa Clarita Lenders.  Click on the Pig and we will find you one 🙂

    Are your working at financing real estate, don’t forget about the fees. Of course if you are in the process of refinancing you are probably well aware that fees are involved when it comes to closing your loan but just in case you have forgotten or perhaps your fees were waived in the past, being prepared for an added expense is of the essence.

    What are the fees associated with a mortgage? There are a few. There is typically an application fee which averages just over $350; an appraisal fee with a national average of almost $300; a home inspection fee which can cost up to $500; an origination fee which is typically in the $2,000 to $3,000 range; and then there are points which you can pay to lower your interest rate and monthly payment.

    BTW – concerning your appraisal fee and your home inspection fee – as we tell our buyers, those are monies that you will not get back if you decide to cancel escrow.  So, make sure you have your agent do all of the “homework” before spending any money. Their “homework” can come in the way of getting the disclosures ahead of time.  It can also consist on getting more detailed information related to the home via the listing agent – so you know what you are getting into before you start paying for “non refundable” services.

    Of course there is no set standard when it comes to fees. Some areas of the country cost more than others and some towns charge a real estate transfer tax where others do not. The important thing is that you don’t get caught off guard at the closing table. Have the money available and you won’t be disappointed by having to empty your piggy bank!

    BTW – Currently – This specific site – Owned and operated by REMAX’s Paris911 Team is number two in the world when it comes to people searching on Google for REMAX Relocation.  When people search for a more specific keyword – We are number one – Santa Clarita Relocation.  Be Safe – Search well and thanks for reading, sharing and re-posting.

    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.
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