Long Beach Real Estate Agent-What will it cost to buy

So this video in the series is all about your Long beach real estate agent, their fees and the total cost of buying a property in the area. It includes the hidden costs and a special discount code to save you money when selling your home or Buying.

Fortunately for Buyers the majority of costs are on the seller not buyer. When it comes to buying you've got it pretty good comparatively. But there are costs besides the cost of the house you are buying.

The actual what it will cost to buy

Ok so lets look at the Buyers typical Closing costs. This is based on a purchase price of $900,000. Its also based on you not being a cash buyer. Roughly 75% buy a home with a Loan.

Loan application fee

$300

Origination fee

1% ($9,000)

Appraisal fee

$375

Wire transfer fee

$30

Home inspection fee

$400

Credit report

$25

Survey cost (not always required)

$500

Lender's title insurance

$1,000

Property taxes ( California Standard rate 1% variable )

($9,000)*

Total

$11,630*

The table shows the total buyer costs on a $900,000 purchase price in California. The property Tax is not added to the total cost this is due at different times of the year. The present cost is $9,000 split over two payments through the year. So although it is a cost the buyer will have it may not be all due at the time of purchase. But you will have it every year for the time you own the property.

I touched on the fact that the majority buy their home with a loan and A home buyer in California could get pre-qualified without having to submit a loan application. But an application is usually required for a full pre-approval, and it has to be said it is definitely recommended not just to give you the peace of mind of knowing where you are with your finances. It also puts you in a stronger position when buying a property as you will look more attractive as a buyer to the prospective seller.