03/03/2022
When buying a house, there are costs that come with the process that are to your benefit. A lot of times buyers aren't aware of these and when it's time to start looking at houses, they realize that they don't have the cash. Here is your reminder, start saving now!!
Earnest Money: These funds are deposited via check or ACH to title company within 5 days of your executed contract. Think of this as your deposit on your dream house. This will ensure the seller that you are serious about buying their home. This typically ranges between $500-$1000, usually the more the better. Don't worry, you will see this money back at the closing table, towards your closing costs/down payment.
Inspection: Buyers do have the option to waive an inspection, but it is highly recommended that one is done, to protect yourself. Payment is due at time of service or sometimes when scheduling. They typically start around $300 for just a basic inspection, but add-ons are available like termite, radon, and sewer scope, etc.
Appraisal: This is ordered by your lender. Appraisals are meant to protect both you and the lender. They make sure that you are not overpaying on a house and your lender is not over lending to you. These are typically around $500-$600 and is due either when it is ordered or at the closing table, rolled into your closing costs.
Finally, there is your down payment. This is due at the closing table, along with your closing costs.
Don't fret, once you are ready, I am here to walk you through the whole process. 😎
Dm me if you have any questions. I can't wait to help you🤩
316-652-5265
Isabel Nilsen
The Hanson Group
Keller Williams Hometown Partners
