Definition of "Acquisition cost"
Lisa Briganti, Real Estate Agent
RE/MAX RESULTS
Total price of purchasing property, including the amount of the property, cost of appraisal fees, attorney's fee, commission, credit report, hazard insurance, document preparation fee, loan application fee, mortgage insurance application fee, mortgage insurance premium, mortgage taxes, pest inspection, property survey, tax stamps. And title insurance.
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Comments for Acquisition Cost
Just purchase a home and want to sell it after living here for about 1 year. Need to know how much we can make on the house without being taxed?
May 30, 2020 13:24:07Hey, Gloria! If you want to determine the value of your home, you need to get in touch with a professional appraiser or find a real estate agent near you that can help evaluate the value of your property. You can go to our directory page linked above and search for an agent either by typing in the Zip code or the area your property is located. Also, if you need help you can contact us via live chat or directly at the following phone number 1-866-495-4953
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Aug 22, 2018 10:42:38As a homeowner or real estate agent?
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suppose I borrow money ,as an investor,to buy a house .Explain to me how I could take an acquisition fee and how the overall sum would be payed back to my private lender
Aug 04, 2018 09:38:13Hello Oya
Aug 06, 2018 09:31:25Thank you for reaching out!
An acquisition fee is a sort of administrative fee that lenders set up for their work arranging the loan. It can be paid as a one-time thing that you pay upfront if you negotiate so - the values typically aren't that big, so it's doable. But it's more common to water down the acquisition fee inside the monthly installments. For instance: instead of paying $800 in one shot, you will include $20 on your monthly payment of $1000, leading to a mortgage of $1020 a month. for 40 months.
Hope we cleared that one for you! Good luck!