Houston Texas Real Estate - Do You Have Enough Money Saved For Closing Costs?

Are you planning on buying a home? If so, make sure that you have enough money saved for closing costs so you can avoid the problem many buyers face of finding out too late that they don't have enough money saved to cover their closing costs.

What Exactly Are Closing Costs?

Closing costs are also known as settlement fees and must be paid during your Real Estate Transaction. These fees are often charged by your lender, Realtor® or any other third party that is somehow involved in your Houston Texas Real Estate transaction.

How Much Should You Save For Closing Costs?

Closing costs can typically range from 2% to 5% of the homes purchase price and they are often the number one thing that first-time buyers who are searching for Houston Homes for Sale forget about paying. Buyers who forget about paying closing costs will have to quickly come up with the money to complete their Real Estate Transaction because they think that all they have to pay is the money for a down payment on a home.

Here’s a breakdown of what closing costs pay for:

• Credit report fees.
• Title services
• Tax service fees
• Attorney fees
• Underwriting fees
• Appraisal fees
• Lender Origination fees
• Survey fees

How Can You Avoid Paying Closing Costs?

In some cases, buyers who are searching for Houston Homes for Sale may be able to avoid paying closing costs if they choose a no closing cost mortgage, or they may be able to negotiate with the seller to have them pay closing costs in order for the deal to close.

Search for Houston Texas Real Estate 

To get started with searching for Houston Homes For Sale, or to learn more about closing costs, contact me, Jeri Maito, Realtor® with Red Door Realty & Associates by calling me at (281) 814-5856 or click here to connect with me online.