Hidden Costs When Buying a House | Top 10 HIDDEN Fees When Purchasing a House

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Matt Leighton

Күн бұрын

Пікірлер: 462

@TheMattLeighton 6 жыл бұрын

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@sanitasquire9614 3 жыл бұрын

Matt leighton when purchasing a house the buyer should pay miscellaneous fee or that fee is for the seller

@TheMattLeighton 3 жыл бұрын

It depends on the fee

@SweeneyJeffreyJ 6 жыл бұрын

Nice Video. I think a lot of people’s comments are immature, this guy took time out of his day to inform us and yet people are still immature.

@andrewc9790 4 жыл бұрын

But he didn't take the time to button his shirt!

@Curiousnessify 4 жыл бұрын

ur mom is immature

@R.R.R.712 4 жыл бұрын

@Vyse500 Lol, look at the above two comments from mines

@kakerake6018 6 жыл бұрын

I'm getting overwhelmed a bit

@kaylamiller6209 5 жыл бұрын

HOA- “You’re not going to like the value you get back from it....... because there is none.” I actually laugh-snorted on that. You’re too right. Thanks for the content!

@TheMattLeighton 5 жыл бұрын

Haha thanks Kayla!

@watsonanthony8438 2 жыл бұрын

Lol unless it includes a pool or gym and landscaping lol

@Dirtyfrnk007 6 жыл бұрын

yikes... dude, I just got discourage to buy my first home.... Great Video though... Thanks for this important info..

@TheMattLeighton 6 жыл бұрын

+Frank Mayes thanks for watching! Better to know all the fees now, than later.

@ryanellis3288 6 жыл бұрын

yea man, I feel the exact same way, but now we just have to be prepared to deal with them as iopposed to not getting the house all together

@Atomicatom80 6 жыл бұрын

Frank Mayes I know right?

@Atomicatom80 6 жыл бұрын

Frank Mayes Im going to try and save up a couple thousand more just incase.

@TheMattLeighton 6 жыл бұрын

+Ideals Spirit smart

@WinTheHouseYouLove 5 жыл бұрын

Great video!! Some of these fees can seem overwhelming, but they're super easy to get as one big quote from your mortgage advisor. Talk to a mortgage advisor and clue them in on your goals and they can prepare an estimate with everything in the video :) Also, ALL lenders are required to show you this info at least 3 days after you have a contract on a house. Lenders are legally required to send you a Loan Estimate that details ALL costs and fees required on your closing.

@TheMattLeighton 5 жыл бұрын

Thanks for watching!

@123minko 2 жыл бұрын

If paying for the house cash no mortgage will it have less fees?

@Calvinmetal 4 жыл бұрын

Top “hidden” costs I have seen so far in my first home purchase is the inspection, appraisal, Ernest money, radon mitigation, buying points, and for me a lack of understanding closing costs. All the “hidden” fees are work it, and if you can’t afford them you should rethink if you are really prepared to buy. These costs are all money well spent to protect yourself. Have a good agent and a reputable lender and you’ll be in good shape.

@TheMattLeighton 4 жыл бұрын

Very well said!

@supastarmar2454 4 жыл бұрын

Mr. Slow real talk smh. I'm in the process and I'm like wtf🤦🏽‍♀️

@Sammich88 2 жыл бұрын

Earnest money isn’t extra cost unless you violate the contract that you agreed to though. It’s literally taken off your down payment when you’re closing.

@arammaldonado2451 2 жыл бұрын

😳😳😳🧐🧐🧐

@Calvinmetal 2 жыл бұрын

@@Sammich88 totally true, but if it’s your first time and you aren’t expecting it, Ernest money can be a surprise.

@miller5311 6 жыл бұрын

Thank you for posting this video. It really helps 🖒

@clintbelagang1877 4 жыл бұрын

i just bought a house and everything you said is right..

@EminySanz 4 жыл бұрын

Hi Clint can i ask how much you had to paid just for those extras fees? Like $5k or more? I dont know how much extra we need to save for those hidden fees on top of the down payment.

@starofthehighestpowers9837 4 жыл бұрын

@Eminy Are you sure you want to buy a home if you don’t have enough money saved up? Watch Dave Ramsey even if you don’t agree with everything he says, but I think most of his advice will serve you well.

@EminySanz 4 жыл бұрын

Star of The Highest Powers Thank you i will check him out. We have enough for the down payment and maybe closing cost but then we wont have anything left like now that things economically are not that great. My husband was two months without a job and i don’t work. But luckily with the saving we manage to be ok. So i guess we will wait for a house. However i will still watch the videos you mention and inform myself. Thanks again.

@richardojeda8744 6 жыл бұрын

Jesse Pinkman finally got his life together and started selling Real Estate.

@TheMattLeighton 6 жыл бұрын

Lol

@TheDcrocks1 6 жыл бұрын

Richard Ojeda I want to know the truth behind this joke.....?

@TheDcrocks1 6 жыл бұрын

Richard Ojeda just got it.ha

@incaguaya 4 жыл бұрын

This is my private domicile and I will not be harrassed! Beeettcch!!

@R.R.R.712 4 жыл бұрын

Damn, you know, the more I research about the house-buying process, the more I feel enlightened, also, disappointed that schools or the general public don't understand this. It then becomes our due diligence to research a lot about these things and to be educated. It may be complicated or hard to understand at first, but well worth it so you can see when you are ready to buy and if it is for you. But I guess lots of good things in life don't come as easy, and you will be rewarded if you put the work into it. Thanks for an informative video!

@iamloveandpeace 6 жыл бұрын

SUBSCRIBED! Thank you for your videos. Very informative.

@sammy08D 6 жыл бұрын

Great video!! I'm just starting my research into buying a home or condo. I'm also seeing mello roos and land lease fees for some places in my area... For what some of the land lease/HOA are charging ridiculously high for ($500+), I don't get why some condos are looking really bad and crumbling...yuck! I appreciate the straightforward and honest info in your videos... I have a lot of catching up to do! :)

@sofiaciro2525 5 жыл бұрын

Thank you for this video! This is really reassuring to know when buying a house... I appreciate it!

@TheMattLeighton 5 жыл бұрын

You're welcome! Thanks for watching!

@DuplicateGlitchXUser 2 жыл бұрын

i love how crystal clear this guy is.

@michaelclay5711 4 жыл бұрын

I enjoyed the videos and opened my eyes to a lot of issues. This is our fourth house to buy and a bunch of your comments I used when choosing a realtor and also a down payment. Really enjoyed the tutorial.

@TheMattLeighton 4 жыл бұрын

Thanks Michael! Appreciate you watching 🙏

@AheadInkSMP 6 жыл бұрын

Great video, thanks!

@ryanellis3288 6 жыл бұрын

Thanks for this video. I have been interested in buying a multi-family home and I knew there were a bunch of costs that ppl weren't talking about. Thanks for this video

@TheMattLeighton 6 жыл бұрын

+Ryan Ellis thanks for watching!

@osmelperera7926 6 жыл бұрын

Worse thing you can do is buy a property with HOA..

@ibbjamin 5 жыл бұрын

osmel perera Entry point for a non fixer up home in the Bay Area is $600,000. That’s not a nice place. You can get a decent condo or nice mobile home for half that. If you cannot afford the $4000/month mortgage on the stick built house, your options are to rent or pay HOA/space rental. Which of those 2 would you prefer?

@aeromedical6750 4 жыл бұрын

@osmel perera - why? A well run HOA is instrumental in protecting property values. Yeah, some of the rules and regulations can be a little bit of a nuisance, but they are designed to keep your neighbor from painting his house pink, and/ or keeping his 1979 POS Chevy Impala parked in the front lawn. There was a time when people took actual pride in their properties and kept them in good repair. Those times are long gone. Go into a neighborhood without an HOA and see how slummy they look. You as an homeowner have very little recourse if your neighbor decides to let their property go to complete crap. They care less how it impacts your resale value. Most of the “anti-HOA” people I come across are either just ignorant of the HOA by-laws or just don’t get involved. They want an HOA to protect their interests without them having to abide by the rules and regulations of the HOA. I know this from the experience of having sat on an HOA board. The people who bitched the most at our quarterly meetings were those who were always behind on their dues or just didn’t want to follow ANY rules.

@imannewby2826 4 жыл бұрын

osmel perera I agree with you, HOA is another bill added to the mortgage

@dans_pool 4 жыл бұрын

lol....Mello-Roos: "Hold my beer"

@worstbehaviorstories 3 жыл бұрын

Those are usually in the hood 🤣

@MakeWay4CJ 4 жыл бұрын

This video was awesome by the way.....some people who watched it may have been overwhelmed but I was over here creating a much needed check list with the name of the fee, approximate amount, why I'm paying for it and when I'd need to pay it (upfront or at closing)! Thanks for taking the time to put this together! Be well!

@TheMattLeighton 4 жыл бұрын

Thank you!

@Annabee399 4 жыл бұрын

Thanks for your wealth of advice. Good stuff!

@imortgagebrokerbrisbane4567 6 жыл бұрын

This video is really great. You have shared great info. Thanks #mortgage

@kimberlygriffin6136 4 жыл бұрын

Thank you sooooooooo... much for the information and I need it soon.👍👍👍

@jarmom4033 3 жыл бұрын

👏 wow, thanks! I've been wondering wth was all those little "fees" that were adding up & costing so much money in the mounds of paperwork! I mean, obviously I knew most of them, but u just answered the questions I was still thinking about! So, again,, thanks!

@LiveCollegiateShag 4 жыл бұрын

So interesting. Glad we found you. Also... you're fun to watch! Good job :P

@TheMattLeighton 4 жыл бұрын

Thank you for watching!

@gomezfamily5585 6 жыл бұрын

Thanks for the video.

@iDreamOfOkra 3 жыл бұрын

To make this a bit simpler, expect to pay an extra 3-5% of the purchase price in closing costs.

@KISHEEME 6 жыл бұрын

Good video thanks

@azorahai7287 4 жыл бұрын

Thank you for this video I didn't know of some of these taxes I live in southwest VA and recently looking for a home

@EC4400 5 жыл бұрын

Very informative video. I really enjoy them and appreciate your sharing.

@TheMattLeighton 5 жыл бұрын

Thank you so much! Appreciate you watching

@jamesdoe2114 3 жыл бұрын

Very informative video for first time buyers. Everything you talked about I expected.

@janinehoke1166 5 жыл бұрын

Great job Matt, as usual.....love the videos.

@TheMattLeighton 5 жыл бұрын

Thank you Janine! I appreciate you

@somasingh9339 5 жыл бұрын

Great information. Very informative. Understood the process a lot more. Thank You.

@TheMattLeighton 5 жыл бұрын

Thank you!

@anabelarcila2779 4 жыл бұрын

So informative and funny. Great job! So many hidden fees. 🤦‍♀️ Why does it have to be so complicated? Can you lower your property taxes?

@toad4u 6 жыл бұрын

Thanks for the bluntness! Hubby and I are looking forward to our home together.

@TheMattLeighton 6 жыл бұрын

+Lady Bulba thanks for watching! Good luck in your search

@dianavarela5227 2 жыл бұрын

Did you buy one yet?

@toad4u 2 жыл бұрын

@@dianavarela5227 yes!

@brittanybrisbon3082 4 жыл бұрын

You did such an excellent job on this video. I am 22 years old. Even though I watch alot of videos I also do alot of research. You hit many things head on.. great job!🥰

@TheMattLeighton 4 жыл бұрын

Thank you!

@AshleyRichardt 6 жыл бұрын

Good video. Considered buying my first home and doing as much research as I can.

@hunkydude322 5 жыл бұрын

forget the research save as much money as you can first.

@Ms_T_Perfectly_Imperfect 5 жыл бұрын

Your videos have been very helpful. Thank you!

@TheMattLeighton 5 жыл бұрын

You're welcome! Thanks for watching!

@JustManuelT 4 жыл бұрын

Matt new subscriber here/ really appreciate your channel and information very straight forward I’m listening to your videos as if I’m in class.🎯👊🏾

@TheMattLeighton 4 жыл бұрын

Thank you so much! I appreciate you watching 🙏🙏

@almaabaya4352 3 жыл бұрын

Hahaha I love this guy. Straight to the point and keeping it real for the buyers..

@ronski0075 4 жыл бұрын

Thankyou sir for the information good to know up front 👍

@TheMattLeighton 4 жыл бұрын

Thanks for watching!

@theKRB93 4 жыл бұрын

Great and informative video! The only thing I wish you had expanded on a bit is what an HOA is and what homes it might apply to. Liked and Subscribed!

@TheMattLeighton 4 жыл бұрын

Thank you and thanks for the feedback!

@slandingham 6 жыл бұрын

Thanks for sharing information. You are a great presenter. It would be helpful to have steady visual representation of accumulated fees. Keep up the educational work :)

@TheMattLeighton 6 жыл бұрын

Thanks for watching and I appreciate the feedback!

@soniarodriguez000 5 жыл бұрын

Never heard if Title fee? It's your house . Another thing you will never get a title if you don't pay the house up front. I pay a morgage lender, for my mortgage and I asked for the title and was ignored

@alymcdonalds 6 жыл бұрын

Thank you

@TheMattLeighton 6 жыл бұрын

+ibrahim aly thanks for watching

@emperor1861 6 жыл бұрын

Matt: excellent presentation. No legalese, just pure simple English. Buying a home is indeed an investment. Why is an investment, because you're putting your money to work, where you want your money to work. You made a great on your face fact " The Price" the beauty when it comes to negotiating is that you already know the number they told you about. I believe is worth mentioning to the People here on this channel to include all these hidden fees in the price. As you know Everyone is out there to make a profit. One is out there to make money and the other is to save money. So how do you negotiate? Stick to your budget. Simple as that. Negotiate from your budget not from theirs. Negotiations is a mind game. Be strong and hold your ground. Also, buying a home takes time AND is exhausting!!!! You need to remember that when you buy any house, you need to consider whether you're going to be able to sell it again in the future.

@TheMattLeighton 6 жыл бұрын

+jurist law agree with everything you said above. Thanks for watching!

@gingerkitty4 5 жыл бұрын

cool info just wish you would have have done a range total at the end

@TheMattLeighton 5 жыл бұрын

Thanks for the feedback! Appreciate it

@pturner7089 4 жыл бұрын

Very informative!!!

@alexsaturos8996 4 жыл бұрын

Very helpful video! And funny too! Thank you

@TheMattLeighton 4 жыл бұрын

Thanks for watching!

@BaldPrairieRealEstate 4 жыл бұрын

Great video Matt! As a Canadian real estate agent it is very interesting looking at the differences between what happens in the USA vs back home in Canada.

@TheMattLeighton 4 жыл бұрын

Thanks for watching! It's always interesting to compare markets!

@DonteeWeaver 5 жыл бұрын

Thanks Matt!

@TheMattLeighton 5 жыл бұрын

Thanks for watching Dontee!

@jadeardz4790 3 жыл бұрын

thanks so much for this video! It would be nice the hidden cost of owning a property!

@edgarolet3169 5 жыл бұрын

Damn, this country don tax me to grave

@marieaupont9901 4 жыл бұрын

Thanks a million for all the information

@TheMattLeighton 4 жыл бұрын

🙏🙏

@Floridaoutdoor 4 жыл бұрын

Thanks for the videos brother

@TheMattLeighton 4 жыл бұрын

🙌🙌

@chanerealty2683 6 жыл бұрын

thank you

@ArcticAstrophysics 5 жыл бұрын

First thing to look at when buying a new house, if it has a HOA or not and if it does keep looking! I'm sure some HOA's are good but a lot of them are horrible. You practically don't even own your own house if you live in one that has a HOA

@MechE11B 3 жыл бұрын

Had HOA people measuring our grass with a ruler every other week. Also we couldn't mow our own lawn, we had to contract that out with a professional lawn service.

@MechE11B 3 жыл бұрын

We moved as soon as we could.

@maryswaffer479 3 жыл бұрын

Very informative for first time home buyers. Thank you!

@TheMattLeighton 3 жыл бұрын

Thank you for watching!

@OksanaAlabamaUSA 5 жыл бұрын

So much charisma! Knowledge! Awesome!

@TheMattLeighton 5 жыл бұрын

Thank you!!

@nk782 4 жыл бұрын

Thank you!

@jzachery 4 жыл бұрын

Great video! Thank you! Being new to house hunting and just entering the game I appreciate. Also, total hottie :)

@jesusmendez50 5 жыл бұрын

Excellent information. In the process of purchasing a home. I wish I would have seen this video prior... All fees are factual!

@TheMattLeighton 5 жыл бұрын

Thank you!

@theodoremassonburg4196 Жыл бұрын

HI. Thanks for sharing.

@roberta3463 4 жыл бұрын

Thanks for the educational video. This is overwhelming and very discouraging. Everyone has their hand in the cookie jar. I am in the process of purchasing a dwelling, I'm concerned whether can afford it now.

@sarayortiz446 4 жыл бұрын

350 thousa- Me: :😨😨😨... few seconds later sighs in relief

@Meowcat53 3 жыл бұрын

All I had to pay out of pocket was earnest money and inspector with USDA loan

@ubcsmercenary2730 6 жыл бұрын

Awesome video. I'm just gonna save up to get a little house with no hoa.

@TheMattLeighton 6 жыл бұрын

+UBCS Mercenary thanks for watching! Good luck

@PixieoftheWood 6 жыл бұрын

Yeah, I can't imagine why anyone would buy a house with an HOA. A condo I understand, they're cheaper to buy and since things like the yard and the roof belong to everyone equally, you're putting that money in to make sure someone will be hired to maintain the lawn/roof/outdoor amenities, and sometimes condos have a gym and pool area you're paying for. In a house with an HOA, you're paying...to have someone give you a bunch of extra rules and restrictions on what you can do with your own property.

@haily475 4 жыл бұрын

I live in a state of Texas and am a veteran. Which fees that u mentioned I could be waived?. Thank you! All Your videos have helped me assimilate the process of buying house

@joshbennett2762 3 жыл бұрын

On a VA lone it is a little different but all the fees that were explained apply

@blaket81 6 жыл бұрын

Wow, this turns me off from EVER buying. I'd be looking to have the seller eat most of these fees except for all the tax related ones obviously. Inspection and appraisal? Logic would tell you that the person selling you the house should have to prove what if anything is wrong with the house, and whether the house is worth what they are asking. As far as earnest money goes I am either not going to pay any or will expect it back if the deal falls though. Like I've said before I need to wait until it goes back to being a buyer's market because sellers will be more willing to eat a lot of these fees.

@AnonymousGameWarden 2 жыл бұрын

You don't want the seller to pay for your inspection. You want to choose your own inspector and have him working for you, not the other way around. Would you really fully trust the inspector and appraiser if they said everything was fine or under valued your home? When your inspector finds issues, the home owner will pay to get everything fixed and have documentation to prove the work was done. Anyway, best of luck waiting for the perfect time to buy!

@stylefoodwithlaila4914 4 жыл бұрын

Great video

@TheMattLeighton 4 жыл бұрын

Thank you!

@SARGEASSYRIAN 4 жыл бұрын

Just seen this video, however, this info still apply nowadays. My question is, what do you think, or what do you suggest to reduce these fees? Thank you.

@josesoto9285 6 жыл бұрын

Im a realtor in Texas and neither the inspection nor appraisal are due upfront. Inspections usually $300-350 dollars. Not everything he is saying will apply everywhere in the US. Earnest money usually $500-1000 bucks, so chill out on that too. I also tell them about all these fees before hand, soooo not really hidden but ok. Good for those that didn’t know any of this though 👍🏼

@dswcornish 6 жыл бұрын

Jose Soto I just bought a house in De. Apraisal and inspection is due up front here and it was 20 yrs ago when I bought my 1st home

@mostmost1 6 жыл бұрын

Inspection do upfront in Indiana and Illinois. Paid appraisal at closing. Didnt know what that was until he called me.

@Paepin 5 жыл бұрын

I'm in Austin, TX and our earnest deposit for a 485K home is 1%, which is $4850.00. In this city, at least, that's customary. In other cities it's as high as 3%.

@lexyreds3443 4 жыл бұрын

Hm I’m from Texas and I paid inspection & appraisal upfront. Earnest deposit was 2,000

@sarahsmith3302 Жыл бұрын

I love this video! Very helpful. When you said “ would you want your inspector to be friends with your agent?” I thought “ idk why not” I’m don’t see how the inspector could help the agen make the sale? By leaving out things that might make the buyer change their mind? Like falsifying an inspection? Scary!

@zunedog31 4 жыл бұрын

Are all of these grouped together and called "closing costs" for which you can ask for a credit from the seller to help cover?

@godschild5189 2 жыл бұрын

You are so right.

@TuCasaConRaul 6 жыл бұрын

Do not be freaked out by all these fees since these HIGHLY HIGHLY HIGHLY vary by state and type of property, in amount and applicability. Go to your lender and get a loan estimate--it is FREE.

@Ms.lindahart 4 жыл бұрын

Raul Zaragoza Agreed! A good agent can refer a local lender that will give them a free estimate of their fees. As agents, the money portion is the lender’s expertise. I value my lender relationships because they don’t steer my clients wrong.

@PrestonAWilliams 2 жыл бұрын

Everyone discusses the down payment but you rarely hear about the closing expenses, home inspection, appraisal that add up to be more than the actual down payment. Budgeting for these items is so important

@realpeopletv2779 4 жыл бұрын

Hay Matt thank you 🙏 🙌🏼

@TheMattLeighton 4 жыл бұрын

Thanks Tony!

@realpeopletv2779 4 жыл бұрын

I look foward to more of your videos, you have answered a lot of my questions, I’m a overseas investors looking to invest in the U.S.A in the next year or so 😊

@realpeopletv2779 4 жыл бұрын

What’s the best advice for flippers? Condos or houses? Im put off by condos a bit by the HOA charges that can be almost like a monthly rental

@jennifersspot5500 4 жыл бұрын

You have such an amazing big energy!

@TheMattLeighton 4 жыл бұрын

Thank you so much!

@jennifersspot5500 4 жыл бұрын

@@TheMattLeighton You welcome!

@marythomas5565 2 жыл бұрын

I love your style

@adultingonhardmode3400 6 жыл бұрын

The financing company we talked to said the home inspection cost was built into the loan and they have a particular company that they use, which is required if we got a loan from them.

@TheMattLeighton 6 жыл бұрын

Your area could operate differently. I would do independent research on the suggested company as well as other home inspection companies in the area

@emes8742 5 жыл бұрын

Thanks for the heads up about the title insurance - but - if the closing attorney is supposed to do a title examination - and if that is supposed to include: .. "an overview of what liens, judgments and mortgages, if any, exist that must be addressed prior to or at closing so it can secure a 1st lien position on the real estate." ... then why does one even need title insurance? Just in case the attorney misses something?

@kingyak7 4 жыл бұрын

How many of those hidden fees are outside of closing cost? I was told closing cost in Texas is $3000 plus 1%of the cost of the home and most of those fees are included or optional. Which fees are required that aren't a part of closing costs?

@bob_frazier 6 жыл бұрын

Title Insurance, especially on modern track homes in these modern times is the one ripoff (price to value wise) that I dislike the most, especially in that they have deductibles on things like mechanic's leans etc. Most of your "hidden fees" can be avoided by paying cash and/or owner financing. Sounds like we have a few less fees out west, too - and our HOA transfer fee is free where I just bought/sold. ALL of these fees PALE IN COMPARISON to the 6% Realtor/MLS fees.

@TheMattLeighton 6 жыл бұрын

+Bob Frazier exactly. I agree. A lot of these fees you have to pay but you're getting nothing of value in return.

@lauragraf 6 жыл бұрын

Thanks

@TheMattLeighton 6 жыл бұрын

+Laura Graf you're welcome!

@kvmkvm6533 5 жыл бұрын

They should just include it with the price of the house....that way u know the total you are going to pay.

@tmpettig 4 жыл бұрын

Kvm Kvm the fees vary, the price of the house is indeed just the price of the house. You could never calculate what those will be for every person.

@Silvermeow 4 жыл бұрын

Tim Pettigrew they can actually, and they do lmao, they just keep the numbers separate

@tamoumoune1 3 жыл бұрын

Exactly !!!!

@sravantatikonda1425 3 жыл бұрын

Closing Costs: 2% to 5% of the home’s purchase price 1. Home Related: 1. Appraisal Fee: 2. Home Inspection 2. Mortgage Insurance Fees: for

@nomad7540 6 жыл бұрын

Fantastic information!! You are doing a great service.

@prospectnyc 3 жыл бұрын

Hi Matt. I'm in your area (NoVa) and will be a first-time buyer sometime in the next 12+ months. I want to get educated and be as prepared as possible. Is there a good resource or 'coach' you recommend to get educated, create goals/milestones to be as prepared as possible for when it's time to buy etc? Happy to pay for such a service/counseling but most of what I've been able to find seems a little too bait-and-switch or generic. Thanks!

@vidz06 6 жыл бұрын

Question do this list make up closing cost or is this in addition to closing cost. And if it is when you request a buyers incentive toward closing it most if not all this list right?

@jnefitemayep1433 5 жыл бұрын

All of that is the closing costs

@azizaziz8399 4 жыл бұрын

Thanks 🛀

@Marquee_Gaming88 5 жыл бұрын

What if the house is built from the ground are those hidden fees will be charge from you once they completed the house btw iam from las vegas

@BoxHouseProductions 2 жыл бұрын

All the fees mentioned/titled as follows: 1. Home Inspection $500 2. Appraisal $450 3. Earnest Money Deposit 1.5-3% of Purchase Price 4. Title Insurance (boring) $2,000 5. County Transfer Tax $350 6. State Transfer Tax .0025 7. State Mortgage Tax .0025 8. Property Tax (locally mandated) 9. Homeowner's Insurance Premium: $1,000 10. HOA Transfer fee $800 11. Title Services $550 12. Condo Move in Fee $100-300

@TheVitalOne 6 жыл бұрын

Matt, I love your videos but I've watched 100 real estate videos and this is the only one which mentions title insurance. Isn't there going to be a title search? If you're getting a mortgage, isn't the bank going to be certain there isn't a lien on the property before they loan you anything?

@TheMattLeighton 6 жыл бұрын

Thanks for watching! Correct, there will be a title search conducted by the settlement company. The settlement company will ensure there isn't a lien on the property. The benefit of having title insurance is that when you go to sell your home, title insurance ensures the title is clean and there are no liens. If there is a lien, title insurance pays for it. If you don't have title insurance and you try to sell your property and a lien comes up, you will have to pay out of pocket to clean the title. It could be something as small as a mechanics lien for a few hundred dollars or something major like a long lost relative who claims that they own the property and that you have no right to sell "your" house. So to answer your original question, yes, you will only be getting a mortgage on a property that has no liens on the title.

@Chloe-zj5bl 5 жыл бұрын

what portion of these fees can be added onto your mortgage?

@andriap8195 5 жыл бұрын

I’m just going to go play in Traffic now k bye . Lol so stressful!

@TheMattLeighton 5 жыл бұрын

Haha please don't! And thank you for watching!

@tepanganiban 4 жыл бұрын

Are these closing costs summarized or is this list separate? Are all or some separate?

@ELD423 6 жыл бұрын

AWEsome

@emmakay4374 6 жыл бұрын

had to laugh about those hidden fees... Deed transfer tax here in Atlantic Canada 1.5% of the purchase price, so thousands of dollars, depending on the purchase price of course.

@TheMattLeighton 6 жыл бұрын

+Emma Kay so. many. fees.