Home Buyer Costs

As outlined in the financing your home purchase tip, the fees associated with closing when you buy a home can add up quickly. Below we’ve covered some additional common buyer expenses incurred outside of closing:

  • Whole House Inspection (depends on home $250-$800): A home inspection will usually be completed within 10 days of the contract. It includes inspecting built-in appliances, structural components and operating systems of the property.
  • Termite Inspection ($60-$80): Must be done within 30 days of closing by a licensed inspector. Any infestation of active termites must be chemically treated before closing.
  • Escrow Account: The lender may require a deposit of the cost of 2-6 months of taxes and hazard insurance to be put into a separate non-interest bearing account to be held towards the payment of the following year’s taxes and insurance expense. These bills are then forwarded to the lender for payment.
  • Interim Interest: Interest is collected on the loan from the date of closing through the end of the month when the loan is closed.

 

Our specialty is helping home buyers and sellers in the following towns in and near Wake County, North Carolina: Apex NC Real Estate, Cary NC Real Estate, Chapel Hill NC Real Estate, Durham NC Real Estate, Fuquay Varina NC Real Estate, Garner NC Real Estate, Holly Springs NC Real Estate, Knightdale NC Real Estate, Morrisville NC Real Estate, Raleigh NC Real Estate, Rolesville NC Real Estate, Wake Forest NC Real Estate, Wendell NC Real Estate and Zebulon NC Real Estate.