Notes on settlement - Buy a home
本帖最后由 断桥 于 2011-12-26 13:14 编辑Hopefully this notes, written down as a memory collector, are somewhat of help to newcomers...
To buy a home to your overall satisfaction is by no means an easy job. Be well prepared for disappointment, frustration, even furies which you sometimes have to play dumb to contain. People say, when you believe the dream home is there then it is there, be calm and persistent.
The listing agent on behalf of Seller will exert all his effort to keep the list price unchanged, but in the final time,he, along with your (Buyer) agent, may compromise in some way in order to strike a deal. Be cautious to offer and counter-offer, it's more or less of a psychological tactics.
Unless you pay all in cash a good mortgage plan is a major part of a successful buy. Do math, do comparisons - you're not going to believe it how big the differences are between banks in both the down payment and the rates!
Floating rate = Prime rate (3% at present) –0.8% (which varies considerably with banks)
Fixed rate = 3.79% (huge difference noticeable between banks too)
When the mortgage plan is selected, it will usually be submitted for approval, upon which the lending bank will conduct an “appraisal” on the property you’re to buy. (There will be an appraisal chargeaccrued of about $200 which can often be waived.) And then a “Financing approval letter” will be sent to your agent to indicate your financing eligibility. Oftentimes the bank may ask you at this moment whether you need a “payment insurance” which is to guarantee the mortgage payback in case of such extreme incidents as the borrowers’ decease. It's just safe to say nope here.
If the everyday life expenses is what you're mulling over a quiet night, the monthly utilities, particularly during wintertime, might be seriously taken into consideration when you buy a house. The utilities details of the house are usually provided by the list agent or you can ask for it otherwise.
Inspection is a necessary step before you sign off the final agreement. A principled inspector may from time to time behave as a deal-breaker which is better than a nice guy anyway. The inspection fee ranges from $300 to 500.
All payment will go through the lawyer to the vendor, so a reliable lawyer firm is what you have to carefully look at.The lawyer fee is about $500.
There are always a plenty of insurance companies you can choose from. The premium varies much from one to another. An average premium for a $300,000 house (in Fredericton) is about $1000. You have to check closely whether your basement insulation or stove something confirms to those regulations which basically involves fire protection. Beware the premium will be a lot higher when something is found vulnerable to (fire) accident. 沙发支持新人原创 Thanks for sharing! cheers,lincoln. 谢了
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