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Buyers Want Your Home for as Little as Possible.
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School Reports in Allen, Plano and Wylie, Texas
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Real Estate Tips
Closing or Settlement >Estimated Closing Costs

There is a federal law that requires mortgage lenders to give prospective buyers an itemized, "good-faith" estimate of their closing costs. Sometimes buyers arrive at the closing with this document in hand and proceed to question each item on the final closing statement that does not match the estimate exactly.

These "good-faith" estimates are just that--estimates. The lender's charges will be fairly accurate, but the charges for attorneys, termite inspections, title insurance, and other items that appear on the closing sheet may vary from the estimate. Some pro-rated items, such as taxes or homeowner's association fees, will also be different if you don't close on the date that was used to calculate the estimate. The purpose of the disclosure law is to give you a ball park figure of your closing costs. But the estimate you are given won't be to the penny--probably not even to the dollar!

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Real Estate Trivia
Q 
What is the maximum interest you can deduct on your federal tax return to purchase or improve a first or second home?

A 
One of the greatest benefits of home ownership is the federal tax deduction for interest up to, but not exceeding, $1million.
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The Pescatore Avrit Team, REALTOR®, real estate agent and broker for Allen, Plano and Wylie, Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

The Pescatore Avrit Team
Keller Willimams Dallas Metro East

250 Highway 78
Wylin, TX 75098
214-417-3621
Fax: 972-941-8204
terripescatore@NUMBER1EXPERT.com

The PescatoreAvrit Team is a top notch team specializing in Collin County real estate.


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