If you are a first time home buyer, it’s an overwhelming process and there’s a lot to know to make sure that you do it correctly. It’s no secret that a home inspection is necessary when you are looking to buy a home for lots of reasons! You want to make sure your new home is a good investment and not a money trap with lots of hidden problems that you find out after it’s too late.
What are closing costs?
Closing costs are the costs associated with buying a home. Most of the costs are the same state to state, but we’ll talk about closing costs specifically to Massachuttes becuase that’s the area we serve. Buyers will want to know in advance how much the cost will be, typically closing costs are about two – five percent of the purchase price.
If you are applying for a mortgage loan or any sort of loan that will be included in the closing costs. If you choose to do an appraisal then that is also included in the closing cost. The broker who is selling the home also gets the commission on the home – which will be apart of the closing costs. The buyer may choose to their specific homeowners insurance which they will pay for during closing. Also, any property taxes that will be owed on the new home will be included in the closing costs.
Does the seller pay for a home inspection?
The buyer typically is the one to pay the closing costs, but it can be negotiated to where the seller pays for it. A home inspection is the seller proving to the buyer that they should be purchasing the home. It’s an essential part of the home buying/selling process to ensure both parties are being truthful and know what they are getting into after all a home isn’t something you can just return it if you don’t like it.
If you have any questions about the home inspection process or need a home inspection, reach out to MGA Home Inspections! We are a licensed and trustworthy company that has a great reputation. Call/text us at 1 (978) 973 – 9783 or contact us on our website! We are happy to be apart of the exciting time of buying a new home.