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Buyers The Buying Process Upfront Buying Expenses
Buyers The Buying Process Upfront Buying Expenses
Upfront Buying Expenses
Purchasing a home means making a major investment. Even before you close on your home, you will incur some expenses so you should make sure you have cash available to start the process.
The following represents an estimate of costs you will probably incur before you purchase your home. This is not intended to be all-inclusive but instead will give you an idea of some of the upfront costs you should expect. (This does not include lender closing costs or pre-paid costs such as taxes, insurance, and interest.)
| Loan Application | $200 - $300 |
| Earnest money deposit | Ranges from approx. $1000 to approx. 3% of purchase price of home. Applied to the purchase of your home at closing. |
| Appraisal |
$400 - $450 (service performed by a licensed or certified appraiser, who develops an opinion of value of the property) |
| Standard Home Inspection | $350 - $450 depending in the inspector |
| Termite/Wood infestation report | $45 - $125 depending on the company |
| Additional inspections | $100 - $500 (if you decide to further investigate a certain aspect of a home, you will likely hire another inspector, such as a structural engineer, radon inspector, or chimney inspector) |
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