Projected Expenses for Buyers
- Good Faith Deposit – $500 Minimum, and or typically 1% of the home’s sale price made payable to the title company. Name of title company will be provided at the time of writing an offer.
- Property Inspection – $300+, payable at time of inspection. Inspections are optional but highly recommended. Cost varies depending on the inspector you choose and the scope of the inspection.Various types of inspections are broken down in the following bullet points.
- Well and Septic Inspection (if needed/required) – $450-$475, payable at time of inspection. Generally this is an optional inspection as well but some counties have a mandatory Point of Sale, which means the Seller needs to provide these accepted tests. We will discuss with you if this applies to your situation.
- Pest inspection – $90+, payable at time of inspection. Optional.
- Radon Inspection – $95+, payable at time of inspection. Optional.
- Homeowners Insurance, $$$(?), payable prior to closing, one year pre-paid policy. Cost depends entirely on price of house and Buyer’s personal contents / choices.
- Attorney Fee – $150-$300. Optional.