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Cape Cod Real Estate Tools: Cost to Buy Worksheet
These are financing expenses typical for most mortgages. You can have this form with you when you speak to a lender. Not all of these costs apply to every transaction. Print and fill out.
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Points:
A point equals one percent of the mortgage amount.
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Pre-paid Tax escrow:
Many banks will collect 2-3 months of real estate taxes up front.
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Pre-paid Interest:
Interest is apportioned so that the mortgage payment is on the first month.
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Application Fee:
Varies with each lender. Some may waive this fee.
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Certified Plot Plan:
Your lender will need to purchase a plot plan.
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Homeowners Insurance:
Banks may require one year premium paid at the closing.
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Flood Insurance:
Required by most banks if the home is located a flood zone. This is in addition to homeowners insurance.
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Title Insurance:
A on-time expense required by most lenders.
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Credit Check Fee:
The lender will run a credit check.
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Recording Fee:
Cost to record at the Registry of Deeds.
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Buyer Attorney Fee:
To review the Purchase and Sale Agreement.
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Bank Attorney Fee:
For title certification and document preparation.
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Inspections:
The cost of the home inspection is paid by the buyer. Additional inspections (termite, radon, structural or electric/plumbing) is paid by the buyer.
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Septic:
Usually paid by the seller.
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Moving Expenses:
Depends on the distance and weight.
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