The Most Overlooked “Closing Cost” for Charlotte NC Home Buyers


Based on tons of scientific research (my opinion and experience with buyer clients) the most frequently overlooked closing cost for home buyers in Charlotte NC has nothing to do with lender fees, attorney charges or even real estate taxes (although those can be overlooked and are time of year dependent).

The MOST overlooked home buyer closing cost is actually
the charge from the neighborhood homeowners association or management company.

It’s actually become very common with homes that are in a homeowners association neighborhood for there to be a charge to update the documents and records
with the new homeowner (the Buyer’s) information.

This charge is separate from the pro-ration of the homeowners association dues
. Though that’s also a common fee overlooked as part of closing costs.

You won’t find any mention of this homeowners association document charge on your Good Faith Estimate from your lender
because they have absolutely nothing to do with it.  It’s house and neighborhood specific.

, you may say you aren’t aware if there’s a transfer document charge in your neighborhood but when selling your home check with the neighborhood management!  Agents, if your sellers refuse, might be a good idea for you to check on it!

, it’s nice to have this info before you even make an offer on a Charlotte NC home for sale but you’ll still have your Due Diligence period to check into it and if the sellers have disclosed a charge to confirm with the neighborhood management.

These charges “may” be under $100, they “may” be more than $100
.  Depends on the association or management company and it’s neighborhood specific.

Chances are pretty good if it’s a home in a neighborhood with a homeowners association there might very well be a charge at closing to update documents
.  Our NC Offer to Purchase and Contract specifies that it’s a BUYER paid charge.
So even if it’s not the “most” overlooked closing cost for home buyers, it’s pretty high on the listand just something for Charlotte NC home buyers to be aware of and keep in mind.

Copyright©2011 by Diane McDermott, All Rights Reserved, “The Most Overlooked “Closing Cost” for Charlotte NC Home Buyers”


The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in Charlotte NC’s real estate market serving neighborhoods in Charlotte NC

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About dianemcdermott

Joyfully divorced, Diane is passionate about sharing her story, experience, wisdom and insight from this beautifully brutal life. Passionate about heartfelt connection in all areas of her life she is a public introvert and most enjoys connecting with and spending quality time with friends, chosen family and clients that are uplifting and inspiring. Her core values of connection, humor, integrity, authentic alignment influence all aspects of her life. She is intentional in all that she does. Diane is the founder and owner of Between the Lines LLC Ghostwriting Services and McDermott Real Estate LLC
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