Section 3 - OWNED LIVING QUARTERS AND OTHER OWNED REAL ESTATE

Types of Owned Real Estate

1. - A home in which you used to live
2. - Property for business or investment purposes only
3. - A second home, vacation home or recreational property, including timeshares
4. - Unimproved land with no buildings on it
5. - Other property

Closing Costs

• Advertising costs
• Deed preparation
• Escrow payment
• Lawyer’s fees
• Points paid by buyer
• Property survey charges
• Recording fees
• Title search
• Transfer taxes
• Real estate listing fees

Costs for Selling a Property

• Advertising costs
• Closing costs
• Commission to Realtor
• Deferred mortgage interest payment
• Lawyer’s fees
• Mortgage penalties
• Points for financing
• Property inspection
• Real estate listing fees

Mortgage Payment Items

1. - Principal
2. - Interest
3. - Property taxes
4. - Property insurance
5. - Mortgage guarantee insurance
6. - Any other payments (Specify)

Fees For Cooperatives

1. - Repayment of loans owed by cooperative
2. - Property taxes
3. - Property insurance
4. - Management
5. - Repairs or maintenance, including lawn care or snow removal
6. - Improvements
7. - Recreational including swimming, golf or tennis facilities
8. - Security including guards or alarm systems
9. - Utilities such as gas, electricity, water, heat
10. - Trash collection
11. - Other (Specify)

Homeowner's Associations or Condominiums Fees

1. - Management
2. - Repairs and maintenance, including lawn care or snow removal
3. - Improvements
4. - Utilities such as gas, electricity, water, heat
5. - Parking
6. - Recreational including swimming, golf and tennis facilities
7. - Security including guards or alarm systems
8. - Maid service
9. - Medical services
10. - Trash collection
11. - Other (Specify)

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Last Modified Date: September 4, 2008