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Costs Before Closing


There are some items that are required prior to closing. These are the most common items that are paid for before closing and a rough idea of what they cost:


  • Earnest Money Deposit-your realtor will request this as an enticement for the seller to accept your offer and take the home off the market. Good news-this is considered part of your down payment and will lower you overall cash due at the closing table TYPICALLY $500+
  • Home Inspection-again, your realtor will give a recommendation for a good local inspector if you need one. A home inspection is NOT required, but is recommended (would you buy a used car without taking it to the mechanic first?) TYPICALLY $300+
  • Appraisal-this 40+ page report is required to determine the value of the home. Good news-this is considered part of the closing costs and after it is paid for will lower your overall cash due at the closing table TYPICALLY $500+
  • HomeBuyer Education-depending on the type of loan you are getting, a class might be required. Many classes are free but there are some that aren't. TYPICALLY $75
  • Additional Required Inspections-sometimes additional inspections are required (pest, well, water, septic, structural, engineering, roof) We'll definitely let you know if any of these are needed VARIES GREATLY DEPENDING ON THE REQUIRED INSPECTION


Happy to help.
Questions? Call/Text/Email anytime
www.ceolender.com
269-220-0494

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