Q: Are there hidden costs in buying a home which may make it unaffordable for me?
A: Buying a home will involve paying a variety of fees and expenses which may be significant. These costs are imposed by lenders, the clerk’s office, insurers and by adjustments between buyer and seller. While the exact amount may change in the few days just prior to the closing, attorneys can often make very good estimates of these extra costs early in the process in order to avoid last minute “surprises” of such magnitude that it jeopardizes your ability to complete the transaction. It is critical that clients openly discuss their economic limitations with the attorney at the earliest possible stage of the representation.