Homes are expensive. In addition to the deposits and the down payment,
there are other costs that buyers need to expect.
| Purchase Costs |
| Lender's Fees | |
| Application | $200 - $500 |
| Appraisal | Often included in application |
| Points | Varies |
| Attorney's Fees | ~$700 |
| Title Search | $100 - $150 |
| Title Insurance | $325 per $100,000 |
| Recording Fee | ~$50 |
| Tax Escrow | 1 year of taxes |
| Tax Adjustment | Buyer reimburses Seller for taxes already paid in
the current 6 month cycle |
| Interest Adjustment | Buyer pays the interest for the partial
month between closing date and end of month. |
| Utilities Adjustment | Varies |
| Condo Fees | Varies (if applicable) |
| Association Fees | Varies (if applicable) |
| Insurance | $1,000+, varies |
| | |
| Inspection Costs |
| Building inspections and radon tests should always be done,
while the others can be added to address specific concerns. |
| Building Inspection | ~$400 |
| Water Test | $35+ |
| Radon Test | ~$100 for placement and pickup |
| Radon Mitigation System | $900 - $1,200 |
| Septic Cleaning & Inspection | $300+ |
| Septic Dye Test | Included in most inspections |
| Asbestos Check | $250 - $375 per test |
| Termite Inspection | $250+ (usually in building inspection) |
