Will I have to pay for closing costs and prepaid items out of pocket?

Not necessarily. This can be handled one of two ways; Either the closing costs and pre-paids can be paid out of pocket or they can be included in the sale price and be specified as closing costs to be paid by the seller. It is not possible to finance these items separately from the home purchase. However, the seller is allowed to contribute toward your closing costs. When the seller pays the buyers closing costs and prepaids this is referred to as seller paid concessions. Some loan programs limit the amount the seller is allowed to pay. Your mortgage advisor will be able to give you the specifics that apply to your situation.

Will I have to choose all of the Key people involved in the transaction?

It is critical to have top key professionals. Finding a good real estate agent is an important staring point. Your real estate broker can be a valuable resource when it comes to selecting your mortgage advisor and your title and escrow officer. The working relationship your real estate broker has with them will help ensure you are well served. If they do not do a top job for you, their relationship and future business are at risk.

Your real estate agent can also recommend professionals they have worked with who consistently provide a high-level of service for all aspects of the transaction. From inspectors and repair men to cleaning and landscape services.

Having top key professionals handling all aspects of a home sale or purchase can be the difference between a successful move and a disastrous one.