- Down payment
- Pa transfer tax – 1% of purchase price
- Loan origination fees
- Points, or loan discount fees, you pay to receive a lower rate.
- Appraisal fee
- Credit report
- Private mortgage insurance premium
- Insurance or property tax escrow if being paid as part of the mortgage
- Recording the deed
- Title insurance policy premium
- Inspection fees
- Notary fees
- Prorations for your portion of the costs of utility bills and property taxes.
(Keep your copy of the signed agreement in a safe place in order that you may refer to it with questions)
- Apply for the mortgage WITHIN 10 days.
- Schedule the requested inspections WITHIN the time allotted in the contract. The inspections must be completed and any requests for corrections must be given to the Seller within the # of days specified in the contract for inspections.
- Buyers must pay for the inspection before or at the time it is being done. We recommend that the Buyers attend the inspections. We do not attend.
- The Mortgage Co will schedule an appraisal. Keep your Agent informed about the day and time.
- After you have received mortgage commitment and all issues from the home inspection have been settled, choose a Title Co. or an Attorney to do the title work. Your Agent can offer suggestions if needed.
- Secure home insurance. You will need at least a binder from the Insurance Co. prior to settlement. The insurance period is usually for one year.
- Obtain a moving permit if required.
- Prepare to have the utilities put into your name by the date of closing.
- Do a pre settlement walkthrough to inspect the property and insure that it is in the same condition as it was when you entered into the Agreement of Sale.
- Bring proof of insurance, drivers license or other ID, and certified check for closing costs if needed, to closing.