Owning real estate

[David Brown]

What fees are involved with owning real estate?

[Jason Wheeler]

The thing that is great about real estate is everything is up for negotiation.

In general in a purchase you can expect to incur fees for

Title insurance
Appraisal
Loan Fees
Inspection Fees

As a general rule most of the conventional deals I work on come out to about 3% of the purchase price in closing fees. You can always ask the seller to credit you, finance your fees or do other creative things to avoid this.

Once you close you will pay Taxes, Insurance, Mortgage if applicable and any maintenance if you are renting the property.

You can find out what is going on with financing at my blog linked below.