Reasons For Real Estate Investing in Philadelphia

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Considering investing in Philadelphia residential real estate? After news reports about a downturned real estate market, there is no better time than today to get started.

Factors to consider when choosing the best real estate investment opportunity include:

o How long you want to hold the property
o What areas are the best for your situation
o Whether you want to "flip" the property or develop and improve it over time while renting to a tenant

If you plan to purchase Philadelphia real estate and rent your property, you may want to invest in Philadelphia's developing neighbourhoods, such as the Art Museum neighborhood, including the communities of Franklintown, Spring Garden, Fairmount, Brewerytown, and Francisville. These areas are enjoying a renaissance that attracts young professionals eager to increase property values.

For many Philadelphia real estate investors, the best neighborhoods are those in close proximity to the city's major medical schools, including Hahnemann Medical College, Thomas Jefferson University, University of Pennsylvania School of Medicine and The Temple University Medical School, opening in May 2009.

Hahnemann Medical College
Hahnemann Medical College at 1505 Race Street is one half of the new Drexel University College of Medicine, a collaboration between Hahnemann and the Woman's Medical College of Pennsylvania. Hahnemann Medical College develops the bright doctors and health care professionals, and the community surrounding Hahnemann Medical Center is reflecting this in a friendly, affordable and low key atmosphere. Real estate investors can purchase affordable Philadelphia properties in close proximity to this esteemed institution, along with all the advantages of the best of Philadelphia city life.

Thomas Jefferson University
Thomas Jefferson University enjoys national recognition as a top quality health educator at the Jefferson Medical College, Jefferson College of Graduate Studies and Jefferson College of Health Professions. Jefferson Medical College, near famed Walnut Street real estate, has been a positive force in the booming center city high end housing market of Rittenhouse Square, where multimillion dollar Philadelphia real estate abounds amid a tree-filled park, trendy shops, excellent restaurants, and two five-star hotels.

University of Pennsylvania School of Medicine
The University of Pennsylvania School of Medicine prepares medical students to deliver quality health care services in a responsive environment that addresses current and future needs of the community and fosters the development of professional responsibility. Located between University Avenue and Spruce Street, this emphasis on progress means real estate values ​​are growing at a healthy pace. Living in this community makes Philadelphia city life easy to enjoy, particular because it is so close to fine shopping, top restaurants, major roadways and world-class entertainment. No wonder Philadelphia real estate values ​​continue to rise!

Temple University Medical School
Across from Temple University Hospital, on the west side of North Broad Street, is a stunning 480,000 square foot glass and brick structure – The Temple University Medical School opening May of 2009. This beautiful 11-story medical school building will occupy one city block and serve as a source of pride for North Broad Street. Real estate in this area is already improving in value. No doubt the distinct character of North Broad Street real estate will thrive and grow because of the Temple University Medical School. Philadelphia residential real estate investors would be smart to consider this the next big area of ​​Philadelphia real estate growth.

Investing in residential real estate in Philadelphia can be highly lucrative, but it is not without its risks.



Source by Bill Jur

The Rights That Go With Real Property

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The rights that go with real property can be summed up by the term appurtenances. When real property is sold, appurtenant rights are ordinarily sold along with it. They can, however, be sold separately, and may be limited by past transactions. In addition to knowing the boundaries of the land and which items are considered part of the real property (fixtures vs. personal property), homeowners and lenders also need to understand which rights are being transferred along with that parcel of real estate.

Fee simple ownership includes such other appurtenances as access rights, surface rights, subsurface rights, mineral rights, some water rights, and limited air rights. One way to understand the rights that accompany real property is to imagine the property as an inverted pyramid, with its tip at the center of the earth and its base extending out into the sky. An owner has rights to the surface of the land within the property’s boundaries, plus everything under or over the surface within the pyramid. This includes oil and mineral rights below the surface, and certain water and air rights. Air rights are sometime regulated by each state allowing for air traffic and water rights can differ from state to state.

It is possible, though, for the owner to transfer only some of the rights of ownership to another person. For example, a property owner may sell the mineral rights to a piece of property, but keep ownership of the farm. Later, when the land is sold, the mineral rights will most likely stay with the mining company (depending upon the wording of the contract involved) even though the rest of the bundle of rights in the land is transferred to the new owner. The new owner is limited by the past transaction of the previous owner, and may not sell these mineral rights to another party, nor transfer them in a future sale of the land.

A lender must know if the entire bundle of rights is being transferred (fee simple) or if there are restrictions or past transactions that may limit the current transfer of ownership in any way. This is important because it may have a great effect on the value of the real property. Transfer of access rights for a sidewalk to be placed across the front of a subdivision lot generally would not have a significant impact on the value of a piece of land. Transfer of mineral rights to a mining company, as in the previous example, likely would impact the value.



Source by Joe Jesuele

What Are The Real Cost Of Selling A Home?

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Experts estimate that most people who use a Realtor will pay as much as 10% of your selling price in costs associated with selling. The cost of selling a home yourself can range from 4% to 8% of the selling price of your home. When you're estimating your expected gains, remember that the cost of selling a home can be deducted from that figure for tax purposes.

To give you an idea of ​​what the costs of selling a home in the current market are, take a look at the information below. We've included estimated costs based on a $ 250,000 home sale, as well as some tips for lowering or eliminating them to lower your overall cost of selling your home.

Sales commission

If you list your home with a Realtor, expect to pay 4 to 6% of the sales price, or $ 8,000 to $ 12,000 in real estate commission.

Tip: Shop around. Real estate commissions are not written in stone. A Realtor may be willing to accept less of a commission in a slow market, or you may be able to save money by contracting with a Realtor for specific services only rather than a contracted listing.

250,000

-12,000

238,000

Closing Costs

Taxes, both transfer taxes and property taxes, and legal fees associated with the closing and finalizing of your home sale will be 2% to 4% of your sales price, or $ 4,000 to $ 8,000.

Tip: Check the laws in your state. If you've prepaid your property taxes for the year, you may get a credit instead of a bill. There may also be other refunds on prepaid escrow costs for home insurance and other costs of selling a home.

238,000

– 8,000

230,000

Paying Off Your Mortgage

Whatever the remaining principal balance is on your current mortgage will have to be paid off upon the sale of your home. Just to keep things simple, let's say that you still owe $ 50,000 on your current mortgage. If there's a prepayment penalty, you'll need to deduct that from your temporary sales price as well.

Tip: Ask your lender to prepare a payoff statement for you to check your figures. If there is a fee charged for the service, you can deduct it as one of the costs of selling a home.

230,000

50,000

180,000

Repairs to Your Home

The cost varies broadly depending on the age of your home and how well it's been maintained. At the very least, you should get a home inspection to identify any possible problems to avoid being surprised by them at closing. You should plan on paying about $ 300 for a home inspection.

180,000

300

179,700

Pre-Sale Facelift

Again, the cost varies with the work that's needed to get the house looking its best. Conservative estimate: $ 300 for new paint, screws and hardware, carpet for living room floor and landscaping service

179,700

400

179,300

Moving costs

The cost of moving from one home to another is included in the cost of selling a home. It may be as little as $ 1000 to as much as $ 12,000 for a cross country move. Let's be conservative again – $ 3,000

179,300

3,000

176,300

Other relocation costs

You may need to replace appliances, pay off school transfer or gym fees, or pay storage for your furniture. There are many unexpected costs of selling a home which may amount to nothing, or add up to a good chunk of change.

Even without adding in other relocation costs, you can see how the cost of selling a home can reduce your final cash gain. The good news is that most of those costs are deductible on your taxes.



Source by B Shelton

How To Calculate The Proceeds Of Your Home Sale

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Selling a home takes a lot of hard work on the part of the home sellers especially if they are doing it on their own. A major part of the process involves a lot of calculating numbers from setting the home price, taxes and legal fees to the amount of profit the seller is going to get. But of course, even before the sale is completed, every seller would want to know the net made he or she will get.

The money you will have when by the closing of the home sale transaction will be the total sale price of the property. However, you will not be able to keep the entire amount as you may need to pay for debts, liens and other charges against the property. So, your net proceeds will actually be the total sale price minus the charges which mostly make up the closing costs.

Below are several important fees that are typically paid out of the sale proceeds. Knowing these charges as well as setting a fair market value for your home will help you accurately calculate your potential net profit.

Attorney's fees. Every home seller will need the help of a real estate lawyer. The attorney plays a vital role in the financial transaction not only as an advisor but also as an escrow agent when you need a third party to keep the deposit or down payment. The fee is either a flat fee at a minimum of about $ 350 or by the hour.

Disbursements. These refer to expenses incurred by a lawyer on behalf of the seller such as the mortgage discharge fee paid to land titles, title search fees, couriers and other charges.

Property taxes. These taxes are paid every year. However, this can be negotiated as to who will should the payment.

Transfer taxes. This is a tax that may be implemented by states, counties or municipalities on transferring real estate property within the jurisdiction. Transfer taxes may range from a small of .01% to 2.2%. It is best that before selling your home, you check your area's rates from the Recorder of Deeds, a title company or a realtor.

Mortgage. The balance of your mortgage will be paid out of the sale proceeds. Without your mortgage is in good standing, you will also have to pay for mortgage penalties and a discharge fee paid to the lender. All mortgage payments due on or before the possession date will have to be paid by the seller.

Loans. If there's a home equity loan or line of credit secured on your home such as via collateral mortgage or caveat, it must be paid out of the sale proceeds. Also, payment for any home renovation loan will have to be taken out of the proceedings.

Home warranty. This guarantees the buyer that all mechanical and electrical appliances in the home are in good working condition on the day of closing up to the first year of ownership. A warranty costs at a minimum of $ 350.

Courier fee. You will need to pay this when you pay off a loan and this fee can run from $ 10 to $ 50 and upwards.

There may be other fees apart from those listed here. What's important, though, is that keep a list of the closing costs and copies of your sales documents to help you figure out your potential endeavors.



Source by Gloria Smith

Realty Vs Real Estate Vs Real Property

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Realty and personal property terms have often been confused as to what they exactly mean. Here we will clear that right up for you. We will look at the terms personal property, realty, land, real estate, and lastly real property.

Let’s begin with personal property. Personal property also known as chattel is everything that is not real property. Example couches, TVs things of this nature. Emblements pronounced (M-blee-ments) are things like crops, apples, oranges, and berries. Emblements are also personal property. So when you go to sell your house, flip, or wholesale deal, you sell or transfer ownership by a bill of sale with personal property.

Realty.

Realty is the broad definition for land, real estate, and real property.

Land

Land is everything mother nature gave to us like whats below the ground, above the ground and the airspace. Also called subsurface (underground), surface (the dirt) and airspace. So when you buy land that’s what you get, keep in mind our government owns a lot of our air space.

Real Estate

Real estate is defined as land plus its man made improvements added to it. You know things like fences, houses, and driveways. So when you buy real estate this is what you can expect to be getting.

Real property

Real property is land, real estate, and what’s call the bundle of rights. The bundle of rights consist of five rights, the right to possess, control, enjoy, exclude, and lastly dispose. So basically you can possess, take control, enjoy, exclude others, and then dispose of your real property as you wish as long as you do not break state and federal laws.

Lastly there are two other types of property we should mention.

Fixture

Fixture is personal property which has been attached realty and by that now is considered real property. So you would ask yourself upon selling to determine value “did you attach it to make it permanent?” The exceptions to this rule are the garage door opener and door key, these are not considered fixtures.

Trade Fixtures

Trade fixtures are those fixtures installed by say a commercial tenant or can be the property of the commercial tenant.

I hope this clears up some misconceptions about personal property, realty, land and real estate and now fixtures and trade fixtures!

Source by Bill Guerra

Investing In Real Estate Investors

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With the never-ending changes in our Real Estate Markets real estate professionals are starting to pay attention to the sound of new commission streams of income. Some realtors have either shied away or ran-away from such terms as “Cap Rate,” & “Cash-on-Cash Returns.” Terms that only the ‘smart’ and ‘numbers-oriented people use to determine if a Real Estate purchase is a “Good Deal”, or not. A majority of the realtor brethren attended real estate school because they are excited and passionate about the promise of selling real estate and making a fantastic living. That being said “Times are a Changing.” Even if you live in a Hot Market where residential real estate sells in 2-3 days there is an old approach to real estate that is growing faster by the day…..Residential Real Estate Investors.

This deft group of real estate investors is taking real estate and the real estate investment world into a new era! No longer accepting the crazy volatility of the Dow Jones and NASDAQ families. Unwilling to accept the investment practices of their fore-fathers these Investors throw caution to the wind for returns above the traditional 5-6% in their Roth or IRA accounts. These Investors are bold and oftentimes aggressive. Today’s Real Estate Investors are all about the fast fix-n-flip, high appreciation, and rock solid monthly cash-flows. Cutting their teeth on investment in their own home-towns is only the beginning as the Serious Investors turn to points outside their own back-yards to other regions that demonstrate greater promise and higher returns. You may say well how does this older adult view their investment opportunities? For starters the age of these stealth hunters ranges from 28 to 68. From “Rich Dad-Poor Dad” book series to Trumps magical presence on “The Apprentice,” the young real estate entrepreneurs are making their dreams happen to the tune of 3-5 acquisitions a year! Got your attention now? The typical Investor has good to great credit scores. Excellent cash reserves or hidden resources of partners with cash, and a willingness to make the deal happen at nearly any cost. The best kept secret of all is that these investing beasts travel in packs. Where you see one another is very close behind. In other words they know the people that you need to know to grow your investor database even larger. If the real estate professional does a good job the happy clients are likely to refer many of their fellow-investors. Not just investor clients but their regular every-day real estate business. Face it, if you can demonstrate to your clients how adept you are with their largest personal purchase of real estate, then wouldn’t you suppose they will be over their “trusted real estate advisors” opinion on buying a basic home, condo or beach house?

So what if you haven’t been focused in the real estate investment sector. And you are thinking this all sounds pretty good, let’s give it a try. First question to ask yourself is who have your clients been working with or exploring their options of real estate investing with over the past 3-4 months. Statistically 6 out of 10 clients have considered investing in real estate or have already begun doing so before their realtor even has a chance to blink an eye. Got your attention now? How about the fact that in less than one year I increased my annual commissions by 30% by just positioning myself within my primary data-base of clients. All I did was let them know that I was ready, willing and able to begin assisting them with their “Investment Realty” needs. What I learned during the first year was that if I could create an environment for my clients to learn more about real estate investing that they would thank me in a variety of ways….Most importantly they would call me before writing a contract and would make sure that I was involved in every contract that wanted to make a real estate purchase. Before long 30% went up to 45% and further. Even if you aren’t interested in expanding your client database, at least consider protecting the turf you have for so long spent tireless amounts of time and financial resources to maintain their allegiance. On the other hand if you are looking at your real estate career and are wondering how to reposition yourself for market growth certainly to go well into 2025, here are a few known facts about how real estate investors can improve your business.

1. Real Estate Investors are literally everywhere. Successfully tapping into your current database could increase your annual commissions by 20-30%.

2. Real Estate Investors will be loyal to the professional that helps fill the gap of their investment education. Workshops, mentoring groups, finding the “golden deals” in your market makes a huge impact!

3. Investing in Real Estate Investors doesn’t have to mean that you lose your “typical” residential realtor position. Being a real estate investment specialist means you are smarter than the average realtor in the market.

4. Mortgage professionals are struggling to provide real estate investors with property deals, so when you can place an investor into a good deal the referrals will begin to flow even more.

5. Real Estate Investors tend to be more conscientious about your personal time away. Investors also like to shop Monday-Friday for their deals before the “Weekend Warrior” investors get out into the competition. This translates into more normal hours and days of operation for you and your business.

6. Real Estate Investors buy-sell cycles are shorter than primary home purchasers resulting in more transactions in shorter time-frames.

If any of these points are encouraging you to seek new options in your business then make sure to sign up for the monthly “Grow your Real Estate Investment business” e-mail newsletter from http://www.InvestorLoft.com additionally, other excellent tools to improve and expand your real estate business can be explored at the InvestorLoft’s educational Shoppe.



Source by John Roush

Philadelphia Commercial Real Estate News

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Philadelphia, fondly known as the City of Brotherly Love, is the largest city in the state of Pennsylvania, in the United States. It has a population of over 1.4 million with a growth rate of 1.2% on average until 2009. This growth is considered one of the lowest in the United States, however, at the present time, there has been a small but significant influx of migrants into the Philadelphia area which has helped somewhat make the office space market in Philly stable. Philadelphia played an important role in what has become America as we know it because it was here that the American Revolution and Independence was fought for. We also list all the office spaces in Pittsburgh and the majority of local listings in: Blue Bell, East Falls, Hatboro, Manayunk, Market St., Oreland, Roxboro, Bridgeport, Chester Springs, Exton, Hanover, and Queen Village. If you need an office space elsewhere check out our office listings.

Local Economy and Companies Supporting Philadelphia:

Philadelphia’s main economic interests lie in the areas of manufacturing, oil refining, food processing, health care and biotechnology. Some prominent Fortune 500 companies that have their base here are Comcast, Lincoln Financial Group, Sunoco, Rohm and Haas Company, Wyeth and Glaxo SmithKline. Some of the federal government’s facilities are also here for e.g., the United States Mint and the Federal Reserve Bank’s Philadelphia division.

Philadelphia New Commercial Developments:

New commercial development is said to be ready to make a comeback with the economy showing signs of recovery. Many business owners are planning their strategy for expansion and new ventures. The commercial districts are poised to be ready when the businesses come back strong after the turmoil. Even the local communities have agreed to work together to make these new ventures work.

Office Space In Philadelphia Rental Rates:

Philadelphia recorded one of the lowest office vacancy rates in the nation at 10.2% despite the economic crisis hitting the whole country. The commercial office rentals faced a hard knock though with a huge dip in rentals which has been experienced across the entire country. The bad economy has affected all types of spaces like serviced units, temporary office spaces, furnished units, and even just conference rooms rented by the hour have dropped in price. Many land and building owners had to package their tenancy agreements with a lot of concessions to make it attractive for businesses. The average office rentals in Philadelphia ran from $21.65 to $24.75 per square foot in the central business areas. This trend is expected to continue right through to 2010 and even further as most experts think office spaces in Philadelphia will take a few years to recover as most companies are afraid to commit to a lease or long term office rental. For more news on the local area and other major cities check out our commercial real estate articles.

Philadelphia Crime Rates and Current News:

The crime rate here is at 54 crimes per one thousand residents. This figure is considerably low if compared to the other cities in the US of the same size and population. Philadelphia is made up of large divisions, namely North, Northeast, Northwest, West, South and Southwest Philadelphia. These areas surround the Center City. Many people like to go to the old part of the city in Downtown Philadelphia rather than the mid town as the traffic is much bearable and you can take a pleasant walk to the ‘Welcome Park’. It is the place where the government of Pennsylvania first started its administration at the Slate Roof House way back in 1701. You will also come across the City Tavern Restaurant where you will find the waiters dressed in old colonial costumes to give it an authentic quaint feeling.

Source by Pat Vedder

Philadelphia Real Estate on the Brink of Dramatic Growth

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The City of Philadelphia's Planning Commission released a comprehensive plan that includes very optimistic growth statistics. The commission stated that over the next 25 years, Philadelphia could attract 100,000 residents and create more than 40,000 jobs.

The hopeful report was based on six different population forecasts with distinct approaches for gathering information. All major local statisticians that work on population growth models signed off on the report and concluded that the agreements were realistic.

The planning commission's report clearly shows how Philadelphia is on a path to sustained growth, and sometimes more accelerated development compared to other similar sized cities. One reason for this may be the lower cost of living. Philadelphiaians enjoy up to 40% less rents, taxes, and public transportation costs than New York City. The train system between the two cities is excellent which supports a daily Phila-NYC commute. This means more and more people are living in Philadelphia, taking advantage of lower costs of living, and still working in New York City.

Philadelphia is also seeing a higher retention of college graduations staying in the area. With the sunset of the financial collapse in 2007, high paying jobs on Wall Street have declined. Students graduating from some of Philadelphia's best universities, in many cases, are having more luck finding employment close to home.

To make room for the anticipated growth, the Philadelphia Planning Commission has filed various public works projects that include adding transit lines, developing new park facilities, and designing a new city agency to manage vacant and underutilized land. City officials describe the plan as long term and wide-ranging.

The expansion in population, jobs, and public infrastructure may be excellent news for real estate owners in Philadelphia. As the City becomes more connected and developed, more opportunities will be created and residents will see property values ​​agree. Philadelphia is also shifting from a manufacturing to a service economy. This means that there will continue to be a surplus of vacant industrial buildings to convert to residential, commercial, or mixed-use properties. These conversions can further help to improve illuminated areas and expand city resources to more neighborhoods.

Although the past few years have been rough, the future may be bright for the City of Brotherly Love.



Source by Joe Jesuele

Real Estate Investors – Creating Flyers to Attract Private Lenders

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Distributing flyers in your community is another marketing strategy for finding private lenders who are interested in investing in your real estate deal. Post flyers at senior centers and areas where high net worth people attend and traffic.

Again, you need to word the content in the flyer as an educational seminar or as an offer to receive free information related to your real estate services. It is important that you remember this to keep yourself out of trouble with the Securities and Exchange Commission (SEC).

Create an Effective Flyer Title

The manner in which the title is worded on your flyer is vital to the types of responses you will get. The more targeted the title is to the audience you are trying to attract, the more successful you will be in attracting highly qualified people that will be interested in working with you. 

  • Generic vs. Precise: If the title of the flyer is very generic, you will get a general audience of untargeted people who may not be interested in what you have to offer. A precisely written title will attract the right prospects that are specifically looking for the service that your flyer is advertising.

For example, don’t just put “Real Estate Seminar” in the title because this is a very broad term. What about the real estate seminar? Why do you want people to attend? What are the benefits? What are your attendees going to get out of it? 

 

Focus on what it is going to offer to your prospect and be specific. Do not go into agonizing details that are going to make your reader’s eyes glaze over. Provide the reader with just enough information to peak their curiosity so they will attend your seminar.

  • Organize the Format: Organize the format of the flyer so it looks professional. You can do this by having it professionally printed or create it yourself in a simple computer program such as Microsoft Publisher or Print Shop. Make certain it is easy to understand and easy to read and be sure everything is spelled correctly with correct use of grammar.

However you decide to create it, do not handwrite it because it will make you look like an amateur and then people will question whether or not you are knowledgeable and trustworthy. 

  • Enhance with Graphics: Include a picture somewhere on the flyer. This could be a picture of yourself delivering other real estate seminars in front of an audience, a gathering where people are asking you questions, or something else related that will provide the reader with a visual image of the content that is being addressed on the flyer.
  • Prompt the Reader to Take Action: Tell your reader what you want them to do after they read your flyer and provide your contact information, as well as the time and place of the event. You can include an extra tidbit if they call you soon such as a free offer or something related. You could also include a statement at the bottom of the flyer that refers to what they may lose out on by not attending your seminar.



Source by Mike Lautensack

Closing Costs – Fees and Expenses Associated With Selling Your Home

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When considering selling a home, the savvy homeowner must be aware of the costs associated with such a sale. While these costs can vary depending on the location of the home, many of the costs are universal.

First and foremost, if there is a mortgage lien on the home that has not been satisfied, the balance will be deducted from the proceeds of the sale. This also includes any second or additional mortgages. The lender will compute the actual balance due through the date of the sale and provide this information to the title company in advance.

Property taxes are also calculated through the date of sale and deducted from the proceeding. If there is an outstanding property tax bill, this too will be deducted from the seller's portion of the proceeds at closing. The property taxes must be current in order for the sale to be finalized.

If the seller obtains the services of a professional real estate agent, the commission which was negotiated will be paid to the broker at the time of closing.

A title insurance policy must be purchased by the seller ensuring that the home is being transferred to the new home buyer with a clear title. The cost of title insurance is based on the sale price of the home.

In some locales, utilities must be paid through the date of closing. For example, the water company may come out to take a final meter reading just before closing and informing the title company of the final water bill due and owed. This bill will be deducted from any proceeds the seller may net at the time of closing.

The seller will also be charged a governmental transfer tax which will vary by municipality.

Another governmental charge will be the cost of releasing the mortgage, if any. This fee is usually fairly minimal.

If there is a dispute against the seller, it's possible that any net proceeds from the sale of the home could have been applied to said judgment. This would also include any mechanic's lien that has been placed against the property.

Attorneys fees are also charged to the seller at closing, if these fees have not been paid in advance. At minimum, an attorney is required to prepare the Warranty Deed and Green Sheet to ensure proper transfer of the property.

An optional charge would be a home warranty offered to the home buyers. In most instances, this is paid for by the seller and is deducted from the proceeding. Offering this warranty may help sell a house faster.

It is in a seller's best interest to speak to a professional like an experienced home buyer or Realtor to obtain a more precise estimate of charges for their particular region. This will allow the seller to compute the difference between the potential sale price of their home, and the expenses that will be incurred, to accurately review their bottom line. Bear in mind, if the expenses exceed the purchase price, the seller will be required to bring funds to the closing table to cover those expenses. Therefore, it is imperative that a seller be aware of the true costs associated with selling their home, whether they live in a larger city like Philadelphia or a smaller rural area in the Midwest.



Source by Joshua Weidman