Buyers and sellers can often feel lost when it comes to the flow of a transaction and can benefit from a primer. The closing process can take 30 – 60 days from the date of contract acceptance. Understanding the importance of each step better prepares buyers and sellers to expect the unexpected. Before embarking on your next real estate contract, reviewing the process can help make real estate very easy.
Mobile: (585) 733-1828
Office: (607) 936-2844
Email: annebezio@warrenhomes.com
76 E. Market St, Corning, NY
Be aware of overall trends & performance in the local residential real estate market for each of the primary markets we serve.
When it comes to time to make a purchase offer, you most likely will be using a standard purchase offer contract specific to your market. We recommend that you familiarize yourself with the contract details so that when it comes time to accept a purchase offer on your home, you can move quickly. Here are sample contracts from all three of our market areas:
Deed Stamps
Cost - $4.00 per $1,000 of sale price (in state)
*Additional $2.00 per mortgage fee - Ithaca specific
Abstract Extension
Cost - Varies - estimated $200
Survey
Cost - $500 for most small lots
Attorney Fee
Cost - Generally $750 - $1,200 - Dependent on Attorney
Recording Fees
Cost - Approximately $150
Real Estate Professional Fee
Cost - Varies
Wood Infestation Report
Cost - if required - Estimated $150
Septic Pumping & Certification
Cost - if required - Estimated $400
Water Bacteria Test
Cost - if required - Estimated $25
Seller Concessions
Cost - if required - Listed in Purchase Offer
Repairs & Improvements
Prior to listing
Repairs
Cost - if required as a result of Structural Inspection
Smoke & CO Detectors
As required by law
Miscellaneous Expenses
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