Buyer Info
What a Well Qualified Buyer Should Know About and Have at Hand- A good credit score, if not start trying to repair it ASAP!!!
- 2 years of tax returns
- Employment verification
- ALL outstanding debt (including school loans, car payments, etc)
- Bank Statements for the past 2 months
- Total Closing costs average an additional 4% to the cost of the purchase
Enough money to pay up front for these items; these are estimates:
| $50 | Credit check* |
| $350 | Appraisal* |
| $125 | Title search* |
Inspections
| $300 | Structural* |
| $100 | Wood destroying pest (highly suggested)** |
| $150 | Radon (optional, but suggested) |
| $200 | Pool/Spa/Hot tub (as needed) |
| $500 | Septic (as needed) |
| $100 | Well (as needed) |
| $450 | Survey (suggested in most cases) Not town homes |
Ernest Money Deposit 1% of the purchase price (negotiable)
Due Diligence Fee 10% of the EMD for a 14-21 day period (negotiable)
Other possible investigations:
Home Owner Associations
Moisture
Lead
Asbestos
Deed Restrictions*
Insurability*
Drainage
Covenants and Restriction
Mold
Synthetic Stucco
Zoning*
Flood Hazard*
Other possible Closing Costs
$1,000 Lawyers fee*
1% Origination fee of mortgage amount**
$25 Tax Certification**
$25 Flood Certification**
$2/100 of purchase price Title Insurance*
$ variable Pro-rated taxes*
$ variable Pro-rated HOA
<$100 recording fee*
$ varies capital contributions (new homes)
$ varies HOA transfer fee (existing homes)
$ Home Warranty
$ Home owners insurance*
$ Escrow taxes/insurance for next year**
$ Commitment/application/processing fees**
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