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5 Hidden Expenses Involved In Buying A House In La Jolla
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When buying a house, it is important to work with an experienced real estate agent who knows very well all the costs that will be incurred in the whole process. Those people that buy a housein La Jolla without seeking help from a real estate agent or working with a realtor that is not experienced may end up finding out that they do not have enough money to close the sale and move while it is too late. The following are the 5 hidden expenses involved in buying a housein La Jolla.

Property taxes as well as assessments

When you are buying a home, it is important to setup an escrow account with the new mortgage lender. This implies that you will need to pay a percentage of the taxes upfront. However, in other states, the seller might have already cleared the local taxes implying that you will have to pay back to the seller when you are closing the sale. Some counties allow for transfer taxes anytime a property changes hands.


Homeowner's insurance as well as insurance against fire should be paid upfront when you are buying a house. You may also be able to get an insurance binder from your company concerning a payment plan, but most mortgage companies will require you to pay for the first year during escrow or closing.

Septic system certification

You will most likely require a clearance from your lender if the home you have acquired is not connected to public sewers. In most cases the seller will pay for that cost but it is up to you to make sure that you do not get any hidden expenses or surprises.

Water quality certification

If you are buying a housein La Jolla that has a well and is not connected to public water service, you will need to check and make sure that the quality of water is good. In fact, you should have this as a clause in your purchase contract. The quality of water should be good for consumption and it should also be plenty in order to allow constant flow so that you will be left without water.

Association as well as maintenance fees

When you are buying a house like a condo, it is important to know that association fees are involved. But there are some housing developments that will require you to pay maintenance fees. You should not just assume that the fees will be nominal. You can find some condos which have association fees that exceed 400 dollars every month. You will need to pay some of these fees every year, which implies that you will need to make the payment upfront.

These are just but some of the few common hidden expenses involved in the La Jolla home buying process. You will need to watch out for them before you go ahead and make an offer on a house in La Jolla because the whole process may end up failing.

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