Section 3 - Owned Living Quarters and Other Owned Real Estate

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Section 3 - Owned Living Quarters and Other Owned Real Estate

Types of Owned Real Estate
  • Commercial real estate or farmland
  • Properties rented out or owned only for investment purposes
  • Other homes, vacation homes, or recreational properties including timeshares
  • Land with no buildings on it
Closing Costs
  • advertising costs
  • deed preparation
  • escrow payment
  • lawyer's fees
  • points paid by buyer
  • property survey changes
  • real estate listing fees
  • recording fees
  • title search
  • transfer taxes
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. Escrow or anything else (including property taxes and insurance)
Fees for Homeowner's Associations, Condominiums, and Cooperatives
  1. Repayment of loans owed by cooperative (Coop only)
  2. Property taxes (Coop only)
  3. Property insurance (Coop only)
  4. Management
  5. Repairs or maintenance, including lawn care or snow removal
  6. Improvements
  7. Utilities, such as gas, electricity, water, heat
  8. Parking (HOA/Condo only)
  9. Recreational facilities, including swimming, golf, or tennis
  10. Security, including guards or alarm systems
  11. Maid services (HOA/Condo only)
  12. Medical services (HOA/Condo only)
  13. Trash collection
  14. Other (specify)

 

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Page Last Revised - August 5, 2025