Uncategorized December 27, 2016

Buying Tips: How To Save On Closing Costs

If you are in the market to buy a home for sale in Tam O’ Shanter, you may be hoping to get a great deal. After all, the winter months are known for being the “Buyers’ market”. However, with the current low inventory, the rising interest rates and rising home prices, this winter’s Tam O’ Shanter real estate market is unusual. It is still a sellers’ market, making it harder to save on the bottom line. If you were one of the buyers who waited for colder weather in the hopes of saving some money, you aren’t out of luck.  While you may not save money on interest rates or the Tam O’ Shanter real estate price, you could save on the closing costs. Check out these tips!

  • Ask your financial institution if they have a loyalty rewards program. Some banks offer existing clients reduced fees or cover closing costs on homes for sale in Tam O’ Shanter. You should be shopping for your loan anyway so it doesn’t hurt to ask.
  • Ask the seller of the Tam O’ Shanter real estate that you are purchasing if they will help cover the closing costs. Most loans allow sellers to contribute up to a certain amount that is tax deductible. You will likely have to pay full price on the home for sale in Tam O’ Shanter but given current market conditions, you will likely be doing this anyway.
  • Schedule your closing at the end of the month if you can. By doing this, you save on prorated association dues, interest and taxes.
  • If you are a part of the military or a union, ask what home buying benefits they offer. Sometimes they help with the closing costs.
  • If all else fails and you don’t want to be out of pocket on closing expenses, you can wrap closing costs into the loan. Lenders usually charge more for this, but it is an alternative if you were not prepared for the closing costs associated with buying Tam O’ Shanter real estate.

If you are interested in buying or selling real estate in Tam O’ Shanter, let me know how I can help. As a long time resident and the local neighborhood specialist, I would be happy to assist you with your Tam O’ Shanter real estate needs.