Becoming Homeowners
Man, what a complicated process. It's not that there are a lot of steps... Which... There are. It's the way all of those steps have to be done in such a short time and a pretty specific order.
I feel like, as a society, we've made this waaaay too rushed and complicated. But, we're dancing our way through it and I can't wait until we hear those keys jingle in a few weeks.
good luck!!
selling and buying a house really is stressful and too many things to do and costly le sigh
Indeed. And this house is perfect for us, but is going to need some renovations.. so I'll be a busy beaver all through winter getting it into tip top shape. And broke... lol.
that's the shitty part, pardon the pun. getting a house in our budget, we are in love with the house, yet still need some renovations :( too much headache :-/
I am in the same boat. I have also learned that realtors are a complete sham and "closing costs" are just a made-up number to rip buyers and sellers off.
that's what my husband always said @pastbastard
as a wife, i nagged him too much for getting us our own home, as renting is nuts here in Canada and we are in the north, far from everywhere, and everything is super expensive, as in grocery and properties! crazy. a house that should only worth around 200-300 K in other parts of Canada, would cost almost a million in our small city of only 20k people and the amount of realtors? unbelievable, thriving for sure but one can see how the houses aren't that good, yet these realtors could sell, sell, sell, its crazy.
Mostly our closing costs have been pretty transparent. The loan processing bank (who isn't the underwriter, so gets none of the interest) charges a loan initiation fee. The title company charges a processing fee (to research the title history, including a trip to the court house to pull physical records). The assessor charges a fee. The realtor get a commission (which he worked pretty hard for). The inspector charges a fee.
Beyond that, no other fees listed... and the rest of the closing credit we got from the seller goes towards reducing our mortgage principal.
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STOPWe just moved into our new home last month. Seriously the whole process is super stressful especially for a first timer (like me). Navigating all the options for everything (home insurance, shopping mortage companies and all the paperwork!) really takes its toll on me. Just glad its over but I still gotta lot of work to do to get settled.