With my experience, I could confidently state that every first time home buyer is nervous from the day of signing the offer of purchase till the day of completion. And it does not help when the professionals helping them make a huge blunder. Recently my first time homes buyers call me on the day of their completion at 4:45pm and said, " My Lawyer called, he forgot to add the CMHC fees to the Statement of adjustments and I need to give additional $7,600 to close this deal.". Imagine my clients horror. If he had known a day or two before he could have managed to come up with the money by the closing date.
Therefore I highly recommend all the home buyers and sellers to go over the cost of closing and selling when dealing with real estate.
Now you thinking, being a seller it should be pretty simple. But my answer is NO. At times clients don't have enough money after the mortgages and penalties are paid out to even cover the cost of realtors and /or lawyers. So consult your real estate professional before signing the dotted line.
■Real Estate Horror Stories: How Not Picking the Right Agent can go Horribly Wrong (pennsylvaniahometradein.com)