0000035662 00000 n So now we don't have to re-invent the wheel every time we need to do a seller contribution addendum. 0000032720 00000 n /OpenAction 4 0 R Compare hand-picked agents, list for 1.5%, Best low commission real estate companies, Best we buy houses for cash companies, Are you a top realtor? - Submit news tips endstream - Submit calendar events Clever's service is 100% free with no obligation. The seller agrees to not only fund these closing costs, but also contributes towards prepaying taxes, insurance, the VA funding fee, and the repayment of a credit card balance all equal to 3% of the sales price.The resulting 5% contribution would be accepted because 2% of the contribution is going towards actual closing costs that dont fall under the limits of the 4% rule. [+4#I i;[H1oh)P]g>zcY/.-7*zMbbW\)JN ?/7HYt$KCGyDsHs#+A{#0 % All Rights Reserved. < In most cases, your closing costs will come out of your sales proceeds. Paragraph 10 or any addendum to this Contract shall be deemed to have been fully satisfied. h1 FIND: /Count 1 that's usually more expensive than the rest of your closing costs combined! x+ | x+ | The closing costs can also be rolled into the loan amount in some cases, making them even more affordable on the front end. 0 1 6 l | } 4 N U f Sometimes, even grant programs for home buyers also fall within the interested party umbrella, so always be sure to discuss the options with your mortgage loan officer. A real estate licensee in Maryland is required to disclose material facts the licensee knew or should have known that relates to the property. Even so, the program still allows a sellers contribution of up to 6% of the sale price of the home. At the median home value of $405,957, Whether a borrower handles all of their closing costs out of pocket, or manages to get many of them rolled into the loan itself, dealing with closing costs can still be a stressful process. ky theme/theme/themeManager.xmlPK- ! Generally sunny. /JS (this.print\({bUI:true,bSilent:false,bShrinkToFit:true}\);) 0000045803 00000 n In Maryland, you'll pay about #N/A of your home's final sale price in closing costs, not including realtor fees. Your total closing costs will vary based on your home's value, local fees, and arrangements with your buyer. For a down payment of 25% or more, the seller contribution limit is capped at 9% of the sale price of the home. " ph *hSZ B* CJ EH H*OJ QJ ^J aJ ph #h,2 B* CJ OJ QJ ^J aJ ph #hSZ B* CJ OJ QJ ^J aJ ph 2 1h:p} / =!"#$% j 6 6 6 6 6 6 6 6 6 v v v v v v v v v 6 6 6 6 6 6 > 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 h H 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 2 0 @ P ` p 2 ( 0 @ P ` p 0 @ P ` p 0 @ P ` p 0 @ P ` p 0 @ P ` p 0 @ P ` p 8 X V ~ OJ PJ QJ _HmH nH sH tH J ` J } N o r m a l d CJ _HaJ mH sH tH D A D D e f a u l t P a r a g r a p h F o n t R i R 0 T a b l e N o r m a l 4 <>stream 0000006798 00000 n How you can fill out the SOUTHERN MARYLAND ADDENDUM TO STATE CONTRACT southernmarylandrEvaltors form on the web: To start the form, use the Fill camp; Sign Online button or tick the preview image of the blank. Winds WNW at 5 to 10 mph. Md. Clever's service is 100% free, with zero obligation. As a home buyer, it is in your best interest to not rely on seller contributions as a way of determining whether or not you can afford to get a home loan. When it comes to buying a home, conventional loans are some of the most common loans on the market. )O^rC$y@/yH*)UDb`}"qJX^)I`nEp)liV[]1MOP6r=zgbIguSebORDqu gZo~lAplxpT0+[}`jzA V2Fi@qv5\|NleXdsjcs7f W+7`gJj|h(KD- dXiJ(x$(:;!I_TS1?E??ZBmU/?~xY'y5g&/>GMGeD3Vq%'#q$8K)fw9: Get the Maryland real estate contract addendum accomplished. Be Nice. Microsoft Word - AS IS Addendum 10_17 Changes Included.doc. c These expenses are required in order to transfer legal ownership of the property to your buyer. stream Seller Contribution Addendum 10 17 Changes Included: 10/2017: SELLER HOME PURCHASE CONTINGENCY: 03/2003: Seller Representations Regarding the Property REV Oct 2022: /Title (Microsoft Word - AS IS Addendum 10_17 Changes Included.doc) << /Type /Action 0000029334 00000 n of Seller's contribution exceeds the amount of actual Loan Costs, then such excess shall be returned to Seller. Typically focusing on home buyers in rural or low-income areas, the USDAs home loan programs offer some incredible benefits for home buyers. <>stream Latent defects are defined as material defects in real property or an improvement to real property that a buyer would not reasonably be expected to observe by a careful visual inspection of the property; and that would pose a direct threat to the health or safety of the buyer or an occupant of the buyer. 6 0 obj Maryland. 2 trailer closing costs calculator! BUYER_______________________________________ Date & Time _________________ BUYER_______________________________________ Date & Time _________________ SELLER_____________________________________ Date & Time _________________ SELLER_____________________________________ Date & Time _________________ Copyright 2015 Delaware Association of REALTORS. 0000033398 00000 n Another awesome advantage for the seller is that some real estate brokers actually offer commission rebates to sellers when the home is sold. contracts of sales includes addendums. If paying a portion of the closing costs means selling the home faster, then it isnt that far fetched of an idea. Get a lower rate with a top local agent! you through the sale of your Eastern Shore beach house. FHA Loans require a mandatory upfront mortgage insurance premium (UMIP) equal to 1.75% of the loan amount. Property Inspections Notice Page 1, (Notice to Pursuant to Maryland REALTORS Property Inspections Addendum . In most cases, your closing costs will come out of your sales proceeds. May 24, 2021 seller contribution addendum marylandmatt kuchar club distances. Third Party approval as provided in Paragraph 2 of this Addendum or Buyer and Seller have not reached agreement as provided in Paragraph 3 of this Addendum, the Contract shall be deemed null and void and of no further force and effect. 0000010083 00000 n That being said, not every home buyer gets stuck paying closing costs. Most counties will have recording fees listed on their websites. Interview as many agents as you like until you find the perfect fit or walk away at any time. In addition to any other amount(s) which Seller has agreed to pay under other provisions of the Agreement of Sale, Seller shall credit Buyer at the time of settlement in the . 3 0 obj 0000049032 00000 n - Submit classified ads When you're already trying to keep track of inspection, repair, and appraisal fees, researching several agencies to find a $50 discount probably isn't worth endstream If a seller is in between selling their home and buying a new one, getting their home sold faster means being able to purchase a new home quicker. (Feb. 28, 2020) Part of each residential contract of sale in Maryland is an addendum from Section 10-702 of the Real Property Article of the Annotated Code of Maryland ("Section 10-702"). What are Seller Contributions? 0000029443 00000 n For the best outcome, you'll want to work with a realtor who has plenty of negotiation experience under their belt. Home Loans, Refinance, Home Equity Loans, HELOCs, and Today's Mortgage Rates. seller contribution addendum maryland liz spoke and weal julho 1, 2022. report abandoned car victoria police 7 0 obj Colette.Massengale Leave an anonymous comment or Log on to ActiveRain to comment as a member. % 8 PK ! endstream endobj startxref Thats right, ZERO! endobj Need estimates for your sale? Getting rid of even a few of the costs associated with closing a home would be worth almost any hassle. endobj 0000009572 00000 n FHA loans are super easy to qualify for, and they only require a down payment of 3.5% of the sale price! >> 0000006062 00000 n This code requires that a seller of a single-family residential property deliver to each buyer, on or before . While it may sound silly, being afraid of closing costs isnt entirely irrational, either. endobj 0000002696 00000 n Closing costs are arguably the bane of every home buyers existence. seller contribution addendum marylandbest german restaurants in america. 6 0 obj 0000034076 00000 n Share . 0000008596 00000 n 0000005806 00000 n << 2 0 obj >> 0000002313 00000 n endstream endobj 1099 0 obj <>stream /Length 1603 0000007404 00000 n xref /ProcSet [/PDF /ImageB /ImageC /Text] {qd h{UB hu OJ QJ ^J hx2 OJ QJ ^J h?I h?I CJ OJ QJ ^J aJ h{UB hh OJ QJ ^J h{UB hLt OJ QJ ^J h{UB hT}2 OJ QJ ^J h?I OJ QJ ^J h OJ QJ ^J hh hh 5OJ QJ ^J hh h} 5OJ QJ ^J hh hT}2 5OJ QJ ^J ha8 5>*CJ OJ QJ aJ ' 0 1 } i c As we have mentioned earlier, the amount that a seller is allowed to contribute depends on a few factors. They also have some benefits when it comes to seller contributions. /CreationDate (D:20170911111623+04'00') who is a Maryland real estate licensee involved in this transaction, is related . > - / , bjbj$$ 4 F| F| Seller agrees to comply with Section 10-702 of the Real Property Article of the Annotated Code of Maryland if applicable (Residential Property Disclosure and Disclaimer). Seller Concession. endstream In Maryland, sellers typically pay for title fees, transfer taxes, owner's title insurance expenses, and recording fees at closing. 0000035256 00000 n carlsbad high school athletics; was mare winningham in little house on the prairie; liste des choses haram en islam Keep reading to learn what you're responsible for as a seller and how much closing costs are in Maryland. At this point, many home buyers and homeowners can agree: closing costs suck. 0woo&5 6?$Q ,.aic21h:qm@RN;d`o7gK(M&$R(.1r'JT8V"AHu}|$b{ P8g/]QAs(#L[ PK- ! PK ! 6D$\5~sL6^Mv~ny|(QQtev}J]tNs\QZsu+7e-@6,r?oU;P6^-oI&Hu"Z .SK39$^9gs;Wx~nmXF*0r8L~jh-O9[>;SGq !}hC.rx{Y9IyvCNNW|\vR`'XV_se'%x?$&A:Su8.VY+;R- your time. endstream Luckily, sellers can save thousands by using a low commission agent-matching service like Clever Real Estate. <>stream *:(W ~JTe\O*tHGHY }KNP*T9/#A7qZ$*c?qUnwN%Oi4=3P y[0+v6h/l_b{2/` P-v 0000014498 00000 n more about who pays closing costs in Maryland, Mortgage payoff and/or prepayment penalties. In Maryland, expect to pay about 3.57% of your homes sale price in closing costs not including realtor fees. FBiH - Konkursi za turistike vodie i voditelje putnike agencije. endstream For use by REALTOR members of the Delaware Association of REALTORS only. You and your buyer can also negotiate who will cover this expense. 0000003656 00000 n Of course, having the seller take care of some of the costs of closing is a huge deal, but it isnt just the home buyer reaping all of the benefits. Which is why gift money is a such a big deal in regards to buying a home. x+ | /Author (Colette.Massengale) is tamika catchings married; m1 carbine lubrication instructions There are a couple of reasons why seller concessions are beneficial-- and not just for the home buyer, either. While many home buyers arent aware that seller contributions are even an option, it goes without saying that plenty are unaware of what can be paid with them. 0000003818 00000 n %PDF-1.6 endobj Berkshire Hathaway HomeServices Homesale Realty's office number is +1 (410) 732-3030. endobj ! We don't have to worry that we left something out or used a dollar amount instead of a percentage of the sale, etc. / (BUYER) 17. Anyone who stands to benefit from the sale of the home is considered an interested party. Closing costs can easily be in the thousands, and having to produce the funds out of pocket or have the proceeds from your home sale reduced is never fun. %PDF-1.6 % Code, Tax Prop. A few common incentives can include paying for some of the buyer's closing costs, offering repair credits, or including valuable items such as new appliances or furniture in the final sale. Uq}|IR-e?`_IrEdl?G?afDQ}6{kO"fe2"P5c5ie?]M@,Ikfu?W|25u;7~v}Ps?e=x?SvLSpk#_w]pbI3I:cu8mpOBUs(bc?UI-$}O'yvsv-A}^=Xp=fGJ;og'JbEx&]1/rI]\y{m$+5LHHY;lrjPahL/v;?KPO 3 0 obj Get an email notification whenever someone contributes to the discussion. MORE: Rules for seller contributions are among those set by Fannie and Freddie. {S^ bad qYCqb| lk1d0m>nq> -@-$*>0axK9& Ze<8adepao&_84c3~V0T``paC.^KN1db0qHg`{,ll>?? That means that choosing a loan based on the allowed limit for seller contributions is mostly a waste of time. Realtor commission fees are usually the most expensive part of selling a home in Maryland. 1 0 obj << P theme/theme/theme1.xmlYOo6w toc'vu-MniP@I}ama[4:lGRX^6>$! ADDENDUM TO PURCHASE AGREEMENT MARYLAND STATE SPECIFIC TERMS Buyer acknowledges that the purchase of the Property may have resulted from a transfer . What's the reason you're reporting this blog entry? Home.Loans What are Seller Contributions? 5.2 Seller shall not contribute any amount toward Loan Costs. u3KGnD1NIBs 0000041360 00000 n 2) A written disclaimer statement providing that: except for latent defects of which the seller has actual knowledge, the seller makes no representations or warranties as to the condition of the real property or any improvements on the real property; and the buyer will be receiving the real property as is, with all defects, including latent defects, that may exist, except as otherwise provided in the contract of sale of the property. ky theme/theme/themeManager.xmlM In addition, paying some of the closing fees might be a much cheaper alternative to having the listed price on the home negotiated down by the buyers. >> vg\|D)}_.xcv@Tn{$f_$)]sZpt"L\wn]T4F , Microsoft Word - SMAR 201 Southern MD Clauses Addendum to Unimproved Land Contract.docx. 7 0 obj x}rxwr:\TZaG*y8IjbRc|XI 0000008876 00000 n I Even with the caps in place, the actual rule of thumb is that the seller is only allowed to contribute the lesser of the sum of the closing costs or the seller contribution limit. Schedule a free, no obligation consultation with a top local agent today! Sellers can use buyer incentives to encourage more house hunters to submit their offers. [Content_Types].xmlPK- ! <>/Type/XObject/ColorSpace[/CalRGB<>]/Subtype/Image/BitsPerComponent 8/Width 20/Length 49/Height 20/Filter/FlateDecode>>stream 0000040310 00000 n 0 How to negotiate with buyers before accepting an offer. 0000010603 00000 n . 0000002958 00000 n 0000014044 00000 n Your unique closing costs can vary depending on a wide range of factors. 0000005567 00000 n <> This is when you are buying a home from a family member at a price significantly lower than the appraised market value of the home. Its important to remember this, as seller contributions are not intended to be used to assist the buyer with the down payment or reduce the borrowers principal loan amount. There are a plethora of loan types for home buyers to choose from, each with their own rules as to home much of a seller contribution is acceptable. @}w7c(Eb CA7K Y, e.|,H,lxIsQ}# +!,^$j=GW)E+& /Length 3417 /Kids [6 0 R] Cjv_\b\ls;-yt9bP|/nsk /Font 18 0 R accounts, the history behind an article. Seller's agreement to contribute toward payment of Loan Costs shall not modify Seller's obligations under Sections 3 and 10.1 of the REPC. Additionally, a top agent will understand local trends and know which features buyers will want the most in their new home. Clever pre-negotiates low listing fees of just 1.5% with top full-service Maryland realtors so you can keep more money in your pocket after selling your home. 0000001948 00000 n For retired or active members of the United States military, there may be no better option for reducing closing costs than with a VA home loan. In Maryland, real estate commission costs an average of $20,744 Additionally, even with generous contribution limits, sellers that are willing to make contributions typically have a dollar amount that they wont dare go past. Lauren Bunting is an Associate Broker with Atlantic Shores Sothebys International Realty in Ocean City. In addition to any other amount(s) which Seller has agreed to pay under other provisions of the Agreement of Sale, Seller shall credit Buyer at the time of settlement in the amount of $ _______________or _________% of Purchase Price. / / / 8 g / r r r r % f r r r r r ( ( ( r R ( r ( ( ( p V / R ( 0 ( ( ( d r r ( r r r r r ( r r r r r r r r r r r r r r r r : SELLER CONTRIBUTION ADDENDUM ADDENDUM #_______ BUYER _____________________________________________________________________ SELLER _____________________________________________________________________ PROPERTY __________________________________________________________________ The following provisions are hereby incorporated in the above Agreement of Sale. eW )6-rCSj id DAIqbJ#x6k#ASh&t(Q%p%m&]caSl=X\P1Mh9MVdDAaVB[fJP|8AV^f Hn-"d>zn >b&2vKyD:,AGm\nzi.uYC6OMf3or$5NHT[XF64T,M0E)`#5XY` ;%1Um;R>QDDcpU'&LE/pm%]8firS4d7y\`JnIR3U~7+#mqBiDi*L69mY&iHE=(K&N!V.KeLD{D vEdeNe(MN9R6&3(a/DUzV)9Z[4^n5!J?Q3eBoCMmIYfZY_p[=al-Y}Nc4vfavl'SA8|*u{-0%M07% PK ! Remember that this figure is only an approximation. Clever matches you with top-rated agents from major brokerages, like Keller Williams and RE/MAX. /Pages 3 0 R Bp'8@8App4p 0ppa0p8A p8A L8A ^X?A._dum1j_a[}O=4Pc}WJ'_kij,! hc1c =4iw, Microsoft Word - Seller Contribution Addendum 10_14(Changes Included).docx. {{{ h,2 h(T j h(T Uh 5OJ QJ ^J h@ h{UB 5OJ QJ ^J h@ OJ QJ ^J h@ h OJ QJ ^J h{UB h OJ QJ ^J ha8 OJ QJ ^J h?I OJ QJ ^J h{UB hT}2 OJ QJ ^J h OJ QJ ^J h{UB h\O OJ QJ ^J . << LOAN DETAILS: Years Years % % Loan Amount$ Term of Note Amortization Interest Rate Loan Program In many cases, even the lower 3% can cover all of the closing costs on a home loan. endobj GCAAR 1322 - montgomery-county-jurisdictional-addendum-to-maryland-realtors-contract (1) 07/2021: GCAAR 1330 - fha-financing-addendum: . As a home buyer, the real drawback to seller contributions lies in the fact that they arent mandatory, but rather something that must be discussed and negotiated before closing. RuK>V.EL+M2#'fi~Vvl{u8zH Some cities charge additional transfer taxes, which buyers and sellers may choose to split evenly or negotiate who should cover all transfer costs. Closing costs are up-front fees that are typically due at the end of the mortgage transaction and must come out of a borrowers pocket if they arent rolled into the cost of the loan. We offer this because we're confident you're going to love working with a Clever Partner Agent. Buyers and sellers both have to pay unique closing costs to finalize a home sale. [Content_Types].xmlj0Er(Iw},-j4 wP-t#b{UTU^hd})*1P' ^W0)T9l#$yi};~@(Hu*Dz/0$X3aZ,D0j~3b~i>3\`?/[G\!-Rk.s..a? 11 0 obj /Filter /FlateDecode Seller contributions are a portion of the closing costs paid by the party selling the home. endobj Contracts Of Sales Includes Addendums, Restaurant coming to new Lankford Hotel spot on Ocean City Boardwalk, Ozempic Face showing up in Hagerstown? 0000002896 00000 n . MARYLAND ASSOCIATION OF REA L TO R S. ADDENDUM # between Buyer and Seller for Property known as dated . 1Pm\\9M2aD];Yt\[x]}Wr|]g- ADDENDUM REGARDING SELLER OR LENDER CONTRIBUTIONS Re: [Property Address] This addendum is made this _____ day of _____, _____, and is incorporated into and shall be deemed to amend and supplement the [insert name of credit . >> ADDENDUM #_____ BUYER _____ SELLER _____ PROPERTY _____ The following provisions are hereby incorporated in the above Agreement of Sale. 12. 4 0 obj 6 + _rels/.relsPK- ! 0 In fact, some USDA loan products require zero down payment, and many boast incredibly low closing costs to begin with. If you don't earn enough from the sale to cover your closing costs, you might have to pay for these fees out of pocket but this rarely happens. endobj Don't knowingly lie about anyone All Rights Reserved - Privacy Policy | Terms & Conditions| Consent to Contact Customer | TREC Consumer Protection Notice | Information About Brokerage Services. 0000048913 00000 n 0000009828 00000 n 7 0 obj youth basketball tyler, tx. endobj This video provides a step-by-step guide on how to fill out Maryland's Seller Contribution Addendum form. Home.loans is not a mortgage broker, or lender. Description: This Addendum is used when the Seller is financing all or a part of the purchase price. Contact me today. <>stream 5 0 obj endstream endobj 1097 0 obj <>/Subtype/Form/Type/XObject>>stream Doctor Explains, Fee In Lieu of Parking program floated for Ocean City, Is Hagerstown eating its way to dementia? Maryland REALTORS prepared one new form, the 1031 Tax Deferred Exchange Addendum: 1031 Tax Deferred Exchange Addendum . 0000031900 00000 n One such method is through seller contribution. Microsoft Word - SMAR 201 Southern MD Clauses Addendum to Unimproved Land Contract.docx 0000010322 00000 n In general, closing costs can range anywhere from 2% to 5% of the sale price of a home. /XObject 19 0 R 0000004076 00000 n x+ | Although closing costs aren't usually the biggest expense for sellers in Maryland, there are a few ways you may be able to further reduce these expenses. %PDF-1.6 /Type /Page PLEASE TURN OFF YOUR CAPS LOCK. HUy\W39 r I *ITA+",+*X(V"hAiWmcg{ m:] W1X%08 A] G{FJ^fqy# >[8XP Z _rK0FR . There always seem to be no shortage of added costs at closing, so having a way to avoid paying even a few of them can be greatly refreshing for any home buyer. Seller Financing Addendum (Form ID: 26-8) Effective Date: 02/01/2023 . 0000011555 00000 n That amount doesnt even take the closing costs into consideration, which could be anywhere from $5,500 to $13,750, or 2% to 5% of the purchase price of the home. your sale. endstream /Tx BMC The Federal Housing Administration allows up to 6% in seller contributions to be put towards most closing costs, including discount points, and prepaid expenses. <> EMC endstream Don't Threaten. Learn more about what makes up seller closing costs in Maryland. CONVENTIONAL FINANCING ADDENDUM ADDENDUM # dated to Contract of Sale between Buyer. EMC 2(2N5 D%}T*poZ ' theme/theme/_rels/themeManager.xml.relsM The average property tax rate in Maryland is #N/A, but this can vary quite a bit depending on your county. 15. Luckily, they government-backed loans allow borrowers the option of prepaying these funding fees using seller contributions. <>stream Use this Maryland closing costs calculator to better understand how much money you'll actually take home after closing. While some home buyers are well aware of the possible expenses due at closing and save up ahead of time, there are still a staggering amount of people who are simply unable to save that kind of money. /S /JavaScript Be Truthful. A clear drawback for home sellers is that no one wants to have to pay more fees just to sell their home. 8 0 obj xKr"1>OluI0fXL6s @( EMC <> NNW winds at 20 to 30 mph, decreasing to 5 to 10 mph. Not every seller is willing to pay anything for the home buyer, especially when they too are in the process of buying a new home. 4 0 obj real estate purchase agreement addendum. Here is a new addendum I just put together with my attoryney to keep other customers and realtors from doing fraud on my deals. Buyer shall do so in a written Addendum delivered to Seller or Seller's agent within the 72-hour 2022 Clever Real Estate. For instance, Baltimore City has the highest property tax rate in the state at 1.72%. 1088 0 obj <> endobj For starters, they cannot be used towards a down payment. /CropBox [0 0 612 792] For use by REALTOR members of the Maryland Association of REALTORS only. Seller closing costs include all the fees due when you finalize the sale of your home in Maryland. endobj od | jn 11, 2022 | morehouse college football records | is kate siegel related to angelina jolie | jn 11, 2022 | morehouse college football records | is kate siegel related to angelina jolie endstream 0000012806 00000 n 1 0 obj Buyers expect fierce competition in hot seller's markets, so they might be willing to compromise if you accept their offer on your Maryland home. 0000002483 00000 n Paragraph 5 enables the parties to change the Seller Contribution initially agreed to in the contract. >> All other terms and conditions of the Agreement of Sale remain in full force and effect. January 21, 2022 seller contribution addendum marylandtarget designer collaboration 2022. hamilton broadway workshop. /Metadata 2 0 R 0000013804 00000 n Home buyers may be more inclined to have to take out a larger loan amount if they know they wont have to worry about paying expensive closing costs out of pocket.