Brian Mahone’s Post

This month, we’re looking at why you don’t need to wait to get on the property ladder 🙌 Giving real-life costs & examples, we compare buying right now vs holding out for interest rates to reduce, show why a bigger deposit isn’t necessarily better, and more! buff.ly/3Pjs4vD #awardwinningmortgageadvisors #mortgagesmadesimple #mortgagesolutions

Did you know... Earnest money, also known as the deposit or a good faith deposit, is a sum of money a buyer puts down to show their commitment to purchasing a property. It's typically held in escrow and is credited toward the down payment or closing costs at closing. Earnest money amounts vary but are generally around 1-3% of the home's purchase price. KEY REAL ESTATE SERVICES #KEYRealEstate #TeamKEY #DidYouKnow

I've got the latest scoop on the NAR settlement! 📝 Fannie and Freddie just announced that buyer's agent commissions WON'T be counted as part of the interested party contributions. 🙌   Here's the 411: - This isn't a change to the selling guides, just a clarification on how seller-paid agent fees are treated - Sellers can still cover 2-9% of the home's value in closing costs for the buyer - But any fees traditionally paid by the seller (like agent commissions) don't count toward that limit   So what does it all mean? More flexibility for sellers to make concessions and keep deals moving! As always, check with your trusted real estate pros to understand the full implications.   Drop any other burning ?'s below, and I'll tackle them next on #AskMarc! 

💡 Real Estate 101: What’s an Escrow? Escrow is a financial arrangement where a third party holds funds until the home purchase process is complete. It protects both the buyer and the seller during a real estate transaction. Got more questions about buying or selling? Drop them in the comments! #RealEstate101 #EscrowExplained #HomeBuyingMadeEasy #currierteam

As the buyer's or seller's agent, provide a detailed real estate closing checklist with parties, lender requirements, and essential documents.📋 Customize separate checklists for buyers and sellers. Access free downloadable templates here for a smooth transaction: 👉https://lnkd.in/dYnzn7m9 #RealEstateClosing #ChecklistTemplates

Understanding Closing Costs: It's not just the down payment. When finalizing a real estate transaction, it's important to be aware of the closing costs. These fees and expenses are paid at settlement and are separate from your down payment. Stay informed and prepared for a smooth closing process. Here are some fees that are a part of closing costs: loan origination fees, title search, recording fees, taxes, insurances, commissions, etc. You should receive a closing disclosure and an ALTA settlement sheet within the week of settlement, but will also get an estimated closing cost sheet from your Realtor/lender ahead of time.

Nearly half (48%) of all U.S. listings have lingered on the market for at least 60 days, the highest share for any August since 2019, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That share was up from 43.2% a year ago and marked the fifth straight month in which the share of homes sitting for at least 60 days posted an annual increase.

Navigating closing costs can be a game of chess—especially in Delaware, where the fees can be particularly steep. 🏠 Recent data shows that closing costs in Delaware average around 5.4% of a home's sale price, the highest in the nation. For context, if you're buying a median-priced home at $355,100, expect to shell out over $19,000 just on closing costs alone! Here's the breakdown: **For Buyers:** - Loan-related fees - Title-related fees - Appraisal fee - Home inspection fee - Escrow fee - Legal fees **For Sellers:** - Real estate commissions - Transfer taxes - Recording fee - Outstanding property taxes and HOA fees - Mortgage-payoff fees - Seller concessions - Legal fees 🔍 Looking for ways to lower these costs? Negotiating with the seller to cover some expenses, or seeking local financial assistance programs, can ease the burden. ✨ Closing tip: Always consider getting a trusted local real estate agent to help navigate these complexities. What’s been your experience with closing costs? Do you have any tips to share? #realestate #buyingahome #Delaware #closingcosts #homebuying

The NAR $418 million commission settlement set off substantial changes in our industry. I have the benefit of many years of changes in our industry, and just published what I feel about it. This can be an exciting time for us in real estate! The highlights beyond the financial settlement for the class action claims are (1) having an agreement with buyers prior to showing a single home; (2) that agreement spelling out what the buyer will pay us, if we can accept any payment offered to us from the seller to cover that, and if we can accept more from seller than agreed upon; (3) not posting commission offers to Buyer's brokers in the MLS or similar forum (still allowed in company publications) There is a lot to consider that I have addressed, that may or may not come about, see https://lnkd.in/gTtz2bw

Understanding closing costs is crucial when completing a real estate transaction. These costs encompass a range of fees and expenses that buyers and sellers encounter at the culmination of the homebuying process. They serve as the final step before sealing the deal and can include expenditures such as inspection fees and appraisals. It is imperative to anticipate and account for these costs to mitigate any unexpected financial burdens. If you seek clarity on how closing costs may impact your situation, allow us to dissect the figures and guide your journey towards a successful closing. #realestate #closingcosts #financialplanning #homesale #homepurchase #thewoodlandstx #montgomerycountytx #harriscountytx #brazoriacountytx #ftbendcountytx #houstontx