Buyers Representation is a service provided that is, for the most part, at no charge to the Buyer. When a Seller has their home for sale, they have enlisted an Agent, the Listing Agent, to work for them. It is imperative that you have your own Representation by enlisting a Buyers Agent to fight for you, negotiate for you, and make sure you are getting a fair deal.

What services does McNabb & Co. provide when buying a home?

  • Accessibility to MLS
  • Availability of agent to peruse through MLS with Buyer to view all potential homes that are suitable for the client
  • Driven around by the Agent to personally view all potential homes
  • Knowledge of area, neighborhoods, school district and more
  • Requesting all documents required by Buyer to make the decision of which house to purchase
  • Write up of all Offers and other related documents including explanation of everything that is signed
  • Negotiating contact from beginning to end
  • All handling of paperwork, inspections and other related procedures
  • Agent present at closing

Mortgage calculator

What can you expect to pay and/or what funds do you need available during the home buying process?

  • Option Fee $50-$150 depending on the length of the Option Period
  • Earnest Money (usually 1% of purchase price) due at the time of written Offer
  • Home and Termite Inspection usually based on square footage
  • Any additional Inspection that Buyer would like preformed during his/her Option Period; could include foundation, roof, siding or repair

What can you expect to pay for at the time of closing?

  • Down Payment
    • This varies depending on the structure of the loan. They can range from as low as 3% to the typical 20% down. The lower the down payment required for the loan, typically, the more risky. Please consult a professional when devising a loan structure that fits best with your personal income and assets/liabilities.
  • Closing costs
    • This also varies on the structure of the loan. Many of the fees can not be adjusted and are related to the processing of the Loan and the Title work provided by the Title Company. However, some fees are negotiable and it would be worth investigating different companies for comparison.
  • Taxes and Insurance for Escrow
    • If you intend to escrow taxes and insurance (make monthly payments along with your mortgage payment), the Lender will usually collect year-to-date payments plus an estimated 3 month cushion at closing. This is great if you intend to escrow, however, it is not required. Please discuss this with your Lender.

Please consult a licensed professional for advice on your mortgage loan. We would also recommend consulting more than one and let each Lender know they are not your only option. Make them earn your business!

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