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Are you a first time home buyer in southwestern Indiana? Here are three costs that many buyers don't expect and these all happen almost immediately after an offer is accepted.
First expense is the earnest money. The earnest money shows the seller that you're making a serious offer, and it usually ranges from five hundred dollars and up, and it's normally due within two business days of an accepted offer. This money later goes toward your down payment or closing costs.
Second expense you'll see is the home inspection. A home inspection is not technically required, but we always recommend it. A typical home and termite inspection will run you around five hundred dollars and more if you add things like radon testing. Don't skip the home inspection. It's one of the most important investments you'll make in the process.
Third expense you'll see is the appraisal fee. Your appraisal will usually run a few hundred dollars, and your lender will communicate the exact amount. The appraisal confirms your home's value and protects both you and the lender.
So, those are the three expenses you should plan for early in the buying process. If you'd like a copy of my full home buyer's guide, call or send me a message.
