|
 |
The Metro
Detroit, Michigan Area: Moving to the Metro Detroit, Michigan Area? Get
info here... |
 |
Novi and Novi
Township: Moving to Novi, Michigan? Get info here... |
 |
Northville and
Northville Township: Moving to Northville and Farmington Hills,
Michigan? Get info here... |
 |
Local Maps
& Links: Novi, Northville and Farmington Hills maps &
local/Michigan web site links for news & media, TV stations, radio
stations, daily Novi, Northville and Farmington Hills newspapers,
transportation, airports & bus terminals, Michigan & local government,
and more |
 |
Things To Do:
For things to do in the Metro Detroit area, click here... |
 |
Local Weather:
Click here for local weather... |
 |
Toddlers and
Kids: To go to the Toddlers and Kids page, Click here... |
 |
Sports:
Click here to get information on local sports... |
 |
Neighborhood
Facts: Moving to Northville and Farmington Hills, Michigan? Get
neighborhood info here... |
 |
School Reports:
Reports for Novi, Northville and Farmington Hills schools kindergarten,
elementary, and high schools |
 |
School
Information: Novi, Northville and Farmington Hills schools and the
education system in Michigan: kindergarten, elementary, high schools, colleges
& universities |
 |
Relocating?:
Free real estate information & relocation package if you're
relocating to Novi, Northville and Farmington Hills, in Oakland County
MI |

Please Sign Up For The Latest Listings and the Latest Real Estate News
 |
First Time Buyers >The Seller May Pay
The costs of buying a home may be daunting. For example, you may have finally saved enough for a down payment on your first home, with a little left over to buy the furniture you will need. Then you hear about having to pay closing costs you weren't anticipating, and this may seem like a real setback.
One way to cover such a shortage is to make the sellers an offer that calls for them to credit you for some of the closing costs. As a rule, the sellers may pay a maximum of 3 percent of the sales price if the buyer is putting five percent down. If the buyer is making a down payment of 10 percent or more, the seller can contribute up to 6 percent of the sales price to cover the buyer's closing costs. Some items, such as prepaid taxes and the first month's mortgage payment, must be paid by the buyers. Sellers may also contribute to paying the appraisal, points, title insurance, settlement attorney fees, state or local transfer taxes and similar items.
Keep in mind that if the credit is included in the price of the house, the appraiser will have to justify the amount, based on sales prices of similar homes in the neighborhood.
|
 |
| Q |
How much does a celebrity's name boost the price of a property?
|
| A |
Typically no more than 5 percent, but there are exceptions--the greater the fame, the higher the price!
|
See More Real Estate Trivia > |
|
|
|
|