Which of the following is NOT an upfront cost when purchasing a house?Option feeProperty taxLegal feesStamp duty
Question
Which of the following is NOT an upfront cost when purchasing a house?Option feeProperty taxLegal feesStamp duty
Solution
Property tax is NOT an upfront cost when purchasing a house. While it is a cost associated with owning a home, it is typically paid on an ongoing, usually annual, basis rather than upfront at the time of purchase. The other costs - option fee, legal fees, and stamp duty - are typically paid upfront when buying a house.
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