When you buy a home, you will have some buyer costs upfront. Would you like to know what those buyer costs are? Here we go.
How Much Are Buyer Costs?
Once you’ve arrived in Sequim to look at homes with your Buyer’s Agent and your list of homes to view, you will incur some typical buyer costs once you have an agreement with a seller. One of the first costs will be a home inspection. I always recommend that buyers pay an expert for a home inspection to find out if there are any issues of concern. A home inspection is one of the buyer costs, and that will cost you about $450. Whether you close or not, the home inspector will expect to be paid on the day of the inspection.
If you want a well inspection, this will cost about $150 for the water flow test and $65 for the water quality test (bacteria and nitrates). And a septic inspection is essential, but that is normally the seller’s cost.
If you are applying for a loan, your lender will ask you for some money, including a credit report fee, possibly a loan application fee, and an appraisal fee. An appraisal can cost $350 to $500, and the loan or credit report fee, if charged, are small fees.
Total Buyer Costs Upfront
You do not have to have a home inspection, and you don’t have to have a well inspection, but these are recommended. The total of these upfront buyer costs and the lender fees will be about $1,100. This doesn’t include your earnest money, which will be a credit toward the purchase price at closing. If you would like to know more about closing costs or the buying process, email or call Chuck Marunde anytime. If you would like a visual of the entire home buying process, see the Sequim Home Buying Process. But now you know about buyer costs.
Last Updated on September 21, 2019 by Chuck Marunde
