Ever wonder why people say the Housing Market is the solution to our economy's crisis? Well, here's a local look at how one home purchase can affect many different people, and it's in a very good way!
Seller Lists Home, Cleans Up Home, Makes Needed Repairs ---> Contractor for Labor, Carpet Cleaners, & House Cleaners. On average, probably $500 - $1,000
Realtor Lists Home, Provides Advertising, Signage, etc. ---> Newspaper & Magazine Revenue, Sign Companies, Website Advertising. Expense varies significantly.
Buyer Puts Offer on Home --->Home, Termite, & Radon Inspections completed. Average $500-$750
Buyer requests Seller Make Repairs ---> Contractor Fees and/or Labor. Cost Varies.
Buyer Obtains Loan for Home ---> Processing Fees to Lender $700-$1,500
Buyer Orders Title Insurance Policy ---> Premium Paid to Title Company $400-$1,000
Buyer Pays for Homeowners Insurance ---> Insurance Co receives premium. Varies.
Buyer Orders Appraisal --->Local Appraiser Completes. $400-$500
Home Closes ---> All parties are paid, Realtor receives commission, Seller Purchases New Home and Becomes a Buyer, and the cycle starts over! Endless possibilities!
JK
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