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Be Prepared to Pay Closing Costs

by Melissa Thompson


When you make an offer on a home and it gets accepted, you have every reason to be excited. Becoming a homeowner is making an investment in your own future; likely the largest financial investment you will make.  However, it is prudent to be aware that there are other costs involved in purchasing a home other than your down payment and monthly mortgage payments.

Closing costs are an expense you may not be aware of if you are a first-time homebuyer.  These costs must be paid prior to closing on the home. They include property taxes, homeowner’s insurance, title search fees, and appraisal fees.  In addition, the closing costs provide the funds that pay the people who have performed services throughout the loan process, like the appraiser and your real estate agent.

Your closing costs will be itemized for you and provided at your closing. But it’s important that you look over them closely and take the time to ask any questions you may have before you sign any documents.  If there is something you don’t understand, your mortgage banker or Realtor can explain it to you.

The homebuyer can negotiate with the seller to determine who will cover the closing costs, but every loan has different guidelines about how much a seller can pay.  Your mortgage banker can provide you with your options. How to Negotiate Who Pays Closing Costs

Whether you end up paying for all or just some of your closing costs, it’s crucial for you to include the amount you will have to pay into your budget.  You can estimate the cost by calculating 2% to 6% of your purchase price.  For example, if your loan is $200,000, your closing costs will range anywhere from $4,000 to $12,000.  You will also receive a document from your mortgage banker after you apply for your loan that will list the anticipated closing costs.  They may change a little during the process, but it will give you a good idea of what to expect.

So, while saving for a down payment is an obvious necessity, you may want to also set aside some cash each month to go toward other expenses associated with buying a new home. What it Really Costs to Buy a Home

If you are in the market to buy or sell a home in the Memphis area, contact professional Realtor Melissa Thompson and let her help you with all your real estate needs! Give her a call today at 901-729-9526!

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New Construction in Collierville TN! 1512 Painted Horse Pass

by Melissa Thompson

1512 PAINTED HORSE PASS, Collierville, TN

OPEN HOUSE Sun, 2:00PM to 4:00PM

$ Click for current price
5 BEDROOMS | 6 Baths (5 full, 1 half ) BATHROOMS |

For more information, contact Melissa Thompson at (901) 729-9526. Visit http://www.crye-leike.com/memphis/10030448 to view more pictures of this property. Amazing Brand New 5BR(2Down),5.1BA Celtic Manor Built Home in The Stables Subdivision in the Sought After Wolf River Corridor of Collierville! Granite Galore, Gleaming White Oak Hardwood Flrs, GE Profile Stainless Steel Appliances, GE Monogram Professional Series 36"Gas Range w/6 Burners, Smooth Ceilings, Soft Close Drawers & Doors, Incognito Custom Closets, Great Rm w/Gas Log Fireplace, Architectural 30Year Asphalt Roof, Central Woodwork NeverRot PVC Energy Star 2.5 Compliant Windows & Doors!

 


1217 DERBY RUN LN, Collierville, TN

OPEN HOUSE Sun, 2:00PM to 4:00PM

$ Click for current price
5 BEDROOMS | 6 Baths (5 full, 1 half ) BATHROOMS |

For more information, contact Melissa Thompson at (901) 729-9526. Visit http://www.crye-leike.com/memphis/10043858 to view more pictures of this property. Amazing Brand NEW 5BR(2Down) Celtic Manor Built Home in The Stables Subdivision in the Sought After Wolf River Corridor of Collierville! Granite Galore, Gleaming White Oak Hardwood Flrs, GE Profile Stainless Steel Appliances, GE Monogram Professional Series 36"Gas Range w/6Burners, Smooth Ceilings, Soft Close Drawers & Doors, Incognito Custom Closets, Great Rm w/Romantic Gas Log Fireplace, Architectural 30Year Asphalt Roof, Central Woodwork NeverRot PVC Energy Star 2.5 Compliant Windows & Doors!

 


5415 SOUTHERN WINDS DR, Arlington, TN

OPEN HOUSE Sun, 2:00PM to 4:00PM

$ Click for current price
4 BEDROOMS | 4 Baths (3 full, 1 half ) BATHROOMS |

For more information, contact Melissa Thompson at (901) 729-9526. Visit http://www.crye-leike.com/memphis/10055563 to view more pictures of this property. Beautiful Home in Sought After Chapel Ridge Subdivision! This Amazing Home Features Spacious Living Areas to Include Impressive Formal Dining Room, 4 Large Bedrooms (1 down/3 up), Eat-In Kitchen, Appliances, Gas Log Fireplace, Crown Molding, Neutral Colors, Part Hardwood Floors and Part Carpet, 3.5 Bathrooms, Fabulous Bonus Room with Mini Kitchen Area/Wet Bar, Large attics, Lots of Built-Ins and Storage Space, 3 Car Side-Load Garage, Large Fenced Backyard with Patio and more. Arlington Schools.

 

Presented By:

Melissa Thompson

Crye-Leike Realtors
901-729-9526
Licensed In: TN
License #: 231600

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12577 Bravo Road, Unincorporated, TN 38017

by Melissa Thompson

12577 BRAVO RD, Collierville, TN

OPEN HOUSE Sun, 2:00PM to 4:00PM

$ Click for current price
5 BEDROOMS | 5 Baths (4 full, 1 half ) BATHROOMS |

For more information, contact Melissa Thompson at (901) 729-9526. Visit http://www.crye-leike.com/memphis/10047364 to view more pictures of this property. Live Up To Your Expectations!Beautiful Home Situated on a Large Corner Lot in Spring Creek Ranch Featuring High Smooth Ceilings,3Romantic Fireplaces,Gleaming Hardwood Flrs,3Car Garage,Fresh Neutral Paint,Granite Galore,Open Flr Plan,Updated Fixtures,Shiplap,5BR(2Down)+Bonus Rm w/Wet Bar,4.5BA,Beautiful Trim,Built-In Bookshelves,4Attics,Gourmet Kitchen w/Stainless Steel Appl Opens to Hearth Rm,Dining Rm,Spacious Great Rm,Backyard Oasis w/Covered Stone Patio w/Fireplace! HOA:Pool & Tennis Courts!

 


5415 SOUTHERN WINDS DR, Arlington, TN

For Sale

Presented By:

Melissa Thompson

Crye-Leike Realtors
901-729-9526
Licensed In: TN
License #: 231600

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$ Click for current price
4 BEDROOMS | 4 Baths (3 full, 1 half ) BATHROOMS |

 

For more information, contact Melissa Thompson at (901) 729-9526. Visit http://www.crye-leike.com/memphis/10055563 to view more pictures of this property. Beautiful Home in Sought After Chapel Ridge Subdivision! This Amazing Home Features Spacious Living Areas to Include Impressive Formal Dining Room, 4 Large Bedrooms (1 down/3 up), Eat-In Kitchen, Appliances, Gas Log Fireplace, Crown Molding, Neutral Colors, Part Hardwood Floors and Part Carpet, 3.5 Bathrooms, Fabulous Bonus Room with Mini Kitchen Area/Wet Bar, Large attics, Lots of Built-Ins and Storage Space, 3 Car Side-Load Garage, Large Fenced Backyard with Patio and more. Arlington Schools.

 

 

329 Bradford Trl, Collierville, TN

For Sale

$ Click for current price
3 BEDROOMS | 2 Baths (2 full ) BATHROOMS |

 

Amazing 3BR, 2BA in Excellent Condition & Move in Ready! All Rms are Large, Open Flr Concept, Separate Dining Rm, Great Rm, Hearth Rm, Kitchen is Eat-In, New Carpet, New Paint, Gas Starter Fireplace, Split Master Bedrm Plan & Vaulted Ceiling w/Walk in-Closet & Whirlpool Bath. Fenced in Yard w/Patio is Perfect for Cookouts & Parties, Laundry Rm, Attic, Security System, HVAC - Jan 2019, Roof 2016, Storage Bldg w/electricity, Side-Load 2 Car Garage & more! Not to mention Great Collierville Schools!

 

 

Open House in Germantown, TN!

by Melissa Thompson

3016 STEEPLEGATE CV, Germantown, TN

OPEN HOUSE Sun, 2:00PM to 4:00PM

$ Click for current price
4 BEDROOMS | 4 Baths (3 full, 1 half ) BATHROOMS |

For more information, contact Melissa Thompson at (901) 729-9526. Visit http://www.crye-leike.com/memphis/10048475 to view more pictures of this property. STUNNING Germantown Home You Have to See to Believe! Space,Space & More Space!New Roof,Fresh Neutral Paint,Smooth Ceilings,2Romantic Fireplaces,Wet Bar,Built-Ins,New Skylights,Beautiful Trim,New Gutters,Open Flr Plan,4BR,3.5BA,3Car Garage,Delightful Screened-In Patio,Workshop w/Bench,Ultraviolet Purifier,Gourmet Kitchen w/Granite Opens to Hearth Rm,Spacious Great Rm,Formal Dining Rm,Downstairs Master w/Luxury BA,Office,Huge Bonus Rm,Craft Rm,Laundry Rm w/Sink,Sec Sys! Germantown School District!

 

Presented By:

Melissa Thompson

Crye-Leike Realtors
901-729-9526
Licensed In: TN
License #: 231600

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93 W CAROLINA AVE, Memphis, TN

For Sale

$ Click for current price
2 BEDROOMS | 3 Baths (2 full, 1 half ) BATHROOMS |

For more information, contact Melissa Thompson at (901) 729-9526. Visit http://www.crye-leike.com/memphis/10054879 to view more pictures of this property. Great Location in Downtown Memphis Near Walking Trails! Spacious 2 BR, 2 BA w/Access to HOA-Community Pool. Recently Updated Kitchen with Stainless Steel Appliances, Stone Floors and Backsplash in the Kitchen. Also, Includes Recessed Lighting. Cozy Fireplace in Living Room and Dining Area. Master Bedroom with Nice Bathroom and Elongated Vanity. Second Bedroom with Full Bath can be an Office or Extra Storage. Security System. Oversized 2 Car Garage and Private Patio. Nearby Dining and Shopping.

 

10177 SORRENTO PL, Cordova, TN

Pending

$ Click for current price
3 BEDROOMS | 2 Baths (2 full ) BATHROOMS |

For more information, contact Melissa Thompson at (901) 729-9526. Visit http://www.crye-leike.com/memphis/10054419 to view more pictures of this property. Quaint 3 BR, 2 BA Cordova Home is in a Wonderful Location and in a well Established Neighborhood! Home Well Maintained! This Home Features an Open Floor Plan in Great Room with Fireplace/Gas Logs and Dining Room, Fully Functional Kitchen with Appliances, Wood Floor, Master Suite with Walk In-Closet and Full Bath, Tile in Master Bath, Fenced Patio, Laundry Room, Storm Door and 2 Car Garage. Make This Home Your PLACE! Convenient to Shopping and Dining.

 

Displaying blog entries 1-10 of 485

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