TAXES Property taxes are a key part of homeownership, affecting both your monthly mortgage payments and long-term costs. At NovaKey Realty, we ensure buyers understand their tax obligations to make informed decisions. Property taxes are calculated based on the assessed value of your home and the local tax rate set by the municipality. These funds support essential community services like schools, roads, emergency services, and infrastructure. Tax rates vary by location, so it’s important to research the specific rates in your target area before purchasing. BROKERAGE COMPENSATION Understanding how real estate brokerage compensation works is essential for buyers and sellers navigating the home-buying process. At NovaKey Realty, we believe in transparency, ensuring all parties are informed about commission structures and how they impact transactions. In most cases, real estate agents are compensated through commissions paid at closing. The seller typically covers the commission, which is then split between the listing agent and the buyer’s agent. This means that as a buyer, you generally do not pay your agent directly—your representation is covered within the sale price of the home. IMPORTANTE NOTE Real estate transactions involve multiple financial and legal considerations, and it’s essential to understand every aspect before making a commitment. At NovaKey Realty, we emphasize transparency and education to ensure you make informed decisions throughout the home-buying process.