Chad Goldstein - Gold Key Realty LLC



Posted by Chad Goldstein on 2/4/2019

Thereís few things in life that are more exciting than closing on your first house. All of the money that you saved and the paperwork that you have filled out has finally come together so that you can now say youíre a proud homeowner. 


Before you start planning your housewarming party, thereís a few things that you need to do with your new home and its contents.


Copy The Closing Paperwork


Undoubtedly, there were dozens of pieces of paper that were handed to you during the closing on your new home. You should have an extra copy of everything that was signed. While the local registrar of deeds probably has a copy of everything filed there as well, itís always a good idea to have extra copies of these papers.


Lock The Doors With New Keys


Youíll need to change the locks when you move into a new home as soon as possible. Many different people had the keys to the home while it was still on the market. Also, before the home was even put up for sale, family members could have passed sets of keys amongst family and friends. The lock category also includes securing sliding doors, electrical boxes, and windows accordingly. 


Put Your Name On It


Youíll need to place your name on a variety of things including your mailbox, the trashcans, the buzzer, and anything else that is property of you and your new home. If it wonít pose a privacy issue for you, itís better to claim whatís rightfully yours early on to ease confusion. 



Put Up Curtains Or Cover The Windows


Thereís probably 1,000 other things that you would rather do when you move into a new home than put up some curtains. Yet, this is so important to your privacy. Without curtains or window treatments, all of your home and its contents are exposed for the outside world to see. Until you have a chance to settle in, you can even use boxes or towels to cover the windows. This is used initially for a security measure to deter thieves and nosy neighbors.


Meet The New Neighbors


ItĎs a good idea to know who is living around you. For one, youíll be aware of any suspicious activity thatís happening in case you see strange people hanging around the area. Itís good to know who you live next to and what you might have in common with them. At the very least, youíll have a new friend. They might even water your plants while youíre away on your next vacation. 


Donít forget to change your addresses as well. Thatís always one of the biggest hassles about moving. Take the right measures for safety and comfort when you move into your new home for a smooth transition





Posted by Chad Goldstein on 12/11/2017

Buying a home is probably the largest purchase you will make in your lifetime. In spite of down payments and monthly mortgage dues, youíll also have to plan for the fees that come with purchasing a home. These expenses are collectively known as closing costs.

Just how much can you expect to spend on closing costs when buying a house? Experts say that closing costs amount to anywhere between 3 and 5% of the cost of the home. So, if you buy a $250,000 home, you could pay as much as $12,000 in closing costs and associated fees.

Coupled with a down payment that is due at the time of signing, closing on a home can get very expensive very quickly. But weíre here to help you understand the cost of closing and how you can potentially cut some of those costs that are due at the time of signing. Read on to learn how.

What are closing costs?

There are dozens of possible expenses that may come up at the time of closing. Depending on your unique situation, you might pay for several or just a few of them. Some common closing costs include:

  • Mortgage application fee. This fee describes the cost of processing your mortgage application. Be sure to go over everything that this fee covers with your lender.

  • Attorney fee. While this fee may not always be required, it is a good idea to have an attorney review your mortgage and related documents and contracts.

  • Property tax. It isnít out of the ordinary to be asked to pay the first or first two months of your property tax at the time of closing.

  • Insurance premiums. Flood, fire, and mortgage insurance premiums may all be required to be paid at the time of closing as well.

  • Home inspection. Itís not a legal obligation to inspect a home before you buy it, but it can save you thousands of dollars in repairs if an issue is discovered after you already sign on a new home.

  • Origination fee. Not all lenders charge an origination fee, but can expect to pay up to 1% of the value of the home to cover the lenderís administrative expenses.

  • Transfer tax. This is the tax for when a property changes ownership. Each state and county charge different amounts, with some states charging no transfer tax at all.

  • Underwriting costs. This is another fee charged by your lender for the work they do to ensure you are safe to lend to.

Where you can save

We know what youíre thinking: thatís a lot of fees. The good news, however, is that you likely wonít end up paying every closing cost there is, and sometimes closing costs are negotiable.

Hereís our advice on how to reduce closing costs.

  1. Shop around. Find a lender that offers a closing cost that youíre comfortable with. Ask the lender for Good Faith Estimate (GFE). The lender is obligated by law to provide a GFE within three business days of applying for a loan.

  2. Negotiate with the lender. Since you havenít signed on the loan yet, you still have the power to negotiate. For best results, try to negotiate the smaller and more obscure fees; those that arenít as common with other lenders are more likely to be reduced or removed.

  3. Negotiate with the seller. Some costs may be negotiated with the seller depending on quickly they would like to sell the home. Negotiate things like inspection fees or transfer taxes with the seller. Or, bring up the closing costs with the seller and see if they will reduce the price of the home to accommodate for some of the closing costs. 







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