Typical Closing Costs for Grand Rapids Buyers

Posted on November 10, 2011 by Terry & Bonnie

Typical Closing Costs for Grand Rapids Buyers

If you are considering purchasing a home, you should know what

fees and expenses you will be responsible for. These costs should be

disclosed in your good-faith estimate of all settlement costs. These

expenses are typically due at the closing. Your title company or other

entity conducting the real estate transaction’s escrow or closing will tell

you the required amounts for:

· Down payment

· Loan origination

· Points, or loan discount fees, which you pay to receive a lower interest rate

· Home inspection

· Appraisal

· Credit report

· Private mortgage insurance premium

· Insurance escrow for homeowner’s insurance, if being paid as part of the mortgage

· Property tax escrow, if being paid as part of the mortgage. Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.

· Deed recording

· Title insurance policy premiums

· Land survey

· Notary fees

· Proration for your share of costs, such as property taxes or utility bills

More information for West Michigan Buyers

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The authors of the this blog write about Grand Rapids Real Estate,

the Greater Grand Rapids MI area, and what it is like to live in

West Michigan. We believe: Grand Rapids is a Great Place to Live!

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry 616-292-7263

OUR FLICKR PHOTOSTREAM

Take the Stress Out of Home Buying – Part # 3

Posted on May 17, 2011 by Terry & Bonnie

Take the Stress Out of Home Buying – Part # 3

Don’t ask for too many opinions. It’s natural to want reassurance

for such a big decision, but too many ideas from too many people will

make it much harder to make a decision. Asking a trusted relative or

parent is different than surveying the whole family and friends.

Focus on the wants and needs of your immediate family — the people

who will be living in the home.

Homes are as unique as the people that live in them.

Accept that no house is ever perfect. If it’s in the right location,

the yard may be a bit smaller than you had hoped. The kitchen may

be perfect, but the roof needs repair. Make a list of your top priorities

and focus in on things that are most important to you.

Let the minor ones go.

Which Mortgage Do I Choose?

SEARCH GR HOMES

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The authors of the this blog write about Grand Rapids Real Estate,

the Greater Grand Rapids MI area, and what it is like to live in

West Michigan. We believe: Grand Rapids is a Great Place to Live!

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry 616-292-7263

OUR FLICKR PHOTOSTREAM

Take the Stress Out of Home Buying Part #2 Timing

Posted on May 5, 2011 by Terry & Bonnie

Take the Stress Out of Home Buying Part #2 Timing

by Bonnie and Terry Westbrook

2. Remember, there’s no “right” time to buy, just as there is no

perfect time to sell. If you find a home now, don’t try to second-guess

interest rates or the housing market by waiting longer — you risk losing

out on the home of your dreams. The housing market usually doesn’t

change fast enough to make that much difference in price, and a

good home won’t stay on the market long.

In fact, we are seeing a dearth of buyer ready homes on the market

in many areas of Greater Grand Rapids right now. Buyer ready homes

are clean, neat, decorated with current, soothing colors and have all

major repairs and updates done. No one wants to go through the stress

of moving AND doing repairs and redecorating. Buyers want a home move-in

ready.

Remember, buying and selling a home is a personal decision. It is

always up to the individuals involved, not scheduled by clocks or market

forecasts.

Call Terry at 1-888-240-1968 ext 0 if you are ready to buy or sell a home.

_________________________________________________________________________________

The authors of the this blog write about Grand Rapids Real Estate,

the Greater Grand Rapids MI area, and what it is like to live in

West Michigan. We believe: Grand Rapids is a Great Place to Live!

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry 616-292-7263

OUR FLICKR PHOTOSTREAM

Take the Stress Out of Home Buying – Part # 1

Posted on May 3, 2011 by Terry & Bonnie

Take the Stress Out of Home Buying – Part # 1
Buying a home should be fun, not stressful. As you look for your

dream home, keep in mind these tips for making the process as

peaceful as possible.

1. Find a real estate agent who you connect with. Home buying

is not only a big financial commitment, but also an emotional one.

It’s critical that the REALTOR® you choose is both highly skilled

and a good fit with your personality.

Why choose a REALTOR®?

Only real estate agents in the U.S. that belong to the National

Association of Realtors are REALTORS®. Why is this important?

Being a REALTOR® means you subscribe to a Code of Ethics

REALTORS^® are committed to treating all parties to a transaction

honestly. REALTORS^®subscribe to a strict Code of Ethics. The Code

of Ethics establishes obligations that, in many cases, are higher

than those mandated by state license law.

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The authors of the this blog write about Grand Rapids Real Estate,

the Greater Grand Rapids MI area, and what it is like to live in

West Michigan. We believe: Grand Rapids is a Great Place to Live!

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry 616-292-7263

OUR FLICKR PHOTOSTREAM

Buying a Home – Budget Basics

Posted on January 7, 2011 by Terry & Bonnie

Buying a Home – Budget Basics

Budgeting has always been a part of my life. My parents

taught me basic budgeting by example. We were supplied all

the necessities but luxuries were handed out sparingly, if at all.

If we really wanted something, we had to prove it wasn’t a passing

fancy and then plan for, or work for the money to buy the items

we wanted.

Buying a home in today’s economy is much the same. You must

have your financial “ducks in a row”. Getting prequalified with a mortgage

lender is a necessity in today’s real estate market. Gone are the

days of writing an offer, getting it accepted, and then worrying about

financing your purchase. Today’s sellers wants to know you are serious

and can afford to buy their houses.

January is a perfect time to analyze last years budget and see

where you spent your money. Before meeting with a mortgage lender, you

should have this information at hand. Lots of online sources exist to

help you with this project, such as online banking reports which are

down-loadable every month and at year-end. We have a basic budget

analyzer page on our web site if you don’t know where to start.

If you know you can’t afford to buy a home but would like to work

towards purchasing one, there are many sources that can help.

Home Repair Services in Grand Rapids offers free classes on money

management and repairing your credit. Or give me a call to discuss

home buying basics at 616-292-7263.

Additional Articles:

You Want to Buy a House, Now What?

Which Mortgage is Best for Me?

Grand Rapids Michigan Online Relocation Guide

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The authors of the this blog write about Grand Rapids Real Estate,

the Greater Grand Rapids MI area, and what it is like to live in

West Michigan. Grand Rapids Michigan is a vibrant, growing

metropolitan area with a diverse business community, great medical

research & services, numerous universities, plus lively arts and

entertainment of all kinds.

We believe: Grand Rapids is a Great Place to Live!

Westbrook Realty Grand Rapids MI Real Estate

Contact Terry 616-292-7263

OUR FLICKR PHOTOSTREAM

Grand Rapids Real Estate

Grand Rapids Real Estate Information

Tag Archives: buying a Grand Rapids home

Typical Closing Costs for Grand Rapids Buyers

Take the Stress Out of Home Buying – Part # 3

SEARCH GR HOMES

Take the Stress Out of Home Buying Part #2 Timing

Take the Stress Out of Home Buying – Part # 1

Buying a Home – Budget Basics

Buying a Home – Budget Basics