COMMON
COSTS
ITEM
ESTIMATED COST
TO BE PAID
NOTES
Earnest Money
1% of Contract price
@ Contract Signing
Deposited by Title Company,
Counts Toward Down Payment.
Inspection
$350-$550
@ Time of Service
Inspector Paid Directly by Buyer.
Radon Test (if Applicable)
$75-$150
@ Time of Service
Inspector Paid Directly by Buyer.
Survey (if Applicable ILC – Full Survey)
$100-$300
@ Time of Service
Survey Company Paid Directly by Buyer.
Closing Costs
Approx. 2% of Contract
@ Closing
Appraisal
$500-$1,000
Some Mortgage companies will require this paid up front, others at closing.
LOAN TYPES
FHA Loan
3.5%+ down
@ Closing
Conventional Loan
3-20% down
@ Closing
USDA Loan
0% down
@ Closing
VA Loan
0% down
@ Closing
MISCELLANEOUS – WILL NOT APPLY TO MOST TRANSACTIONS
Dewinterization/
Rewinterization
$150-$450
@ Time of Service
Only required for HUD and REO properties where the home is vacant and winterized. It must be dewinterized to turn utilities on for inspection.
Well/Septic Inspection
Costs Vary
@ Time of Service
Required where inspections identify potential issues and loan underwriting requires it to be inspected.
Structural Inspection
$500-$700
@ Time of Service
Often required for manufactured or modular homes to verify permanence of foundation. Engineering company paid at time of service.
While we have tried to provide accurate estimates, each transaction will incur specific costs associated with the sale and the loan process. We make no guarantee as to the accuracy of these costs as they relate to your specific situation.
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