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*


$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




Deed Restrictions*



Covenants and Restriction


Synthetic Stucco


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**


*definitely needed
**lender usually requires


Useful Links





Old Republic Home Warranty


Contact Sue today for more information!



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