FIVE COMMON FEES OF HOME PURCHASES

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FIVE COMMON FEES OF HOME PURCHASES

FIVE COMMON FEES OF HOME PURCHASES

FIVE COMMON FEES OF HOME PURCHASES

When buying a home, it’s important to remember that the list price isn’t the only cost you’ll incur during your purchase. There are a handful of fees that every homebuyer can expect to pay before they close the deal. Below is a breakdown of the five most common extra expenses that come buying a home.

 

Fees of Home Purchases – Down Payment

Outside of the overall price of the home, the down payment is probably the largest expense you’ll incur in the course of your purchase. Down payments for stateside buyers typically run from 3 to 20%, and from 25% and up for foreigners. There are of course exceptions to these standard rates, as well as aid programs for first-time or otherwise disadvantaged homebuyers, but a higher down payment is always a safe bet for securing the best terms for your loan.

 

Fees of Home Purchases – Earnest Money

Earnest money isn’t so much a fee as a show of good faith to the seller. Securing these funds (usually 1-5% of the purchase price) before you put in a contract on a home lets the seller know you earnestly intend to follow through on the purchase, and lets them take their house off the market without inviting unnecessary risk. The good news? Buyers get their earnest money back at the time of closing.

 

Fees of Home Purchases – Closing Costs

For homebuyers, collective closing costs are generally the second-biggest out-of-pocket expense involved with the purchase. Closing costs can include anything from loan origination fees, tax preparations, appraisals, title searches, and a handful of other fees depending on the unique circumstances of the purchase. These fees typically add up to between 1 and 5% of the sale price.

 

Fees of Home Purchases – Moving

Moving expenses can vary greatly depending on the number of possessions you’re transporting, the distance you’re traveling, and the range of moving services you opt for. Prices can run well into the thousands for cross-country moves, while first-time homebuyers with few possessions might only incur a fraction of that.

 

Fees of Home Purchases – Home Inspection

While technically optional, having your home inspected is always encouraged as a means of avoiding possible future complications with your purchase. Though inspection prices may run as high as several hundred dollars, investing in this important step can potentially save you much more money down the road. Some specific points of inspection include mold, septic, termite, foundational, structural, and HVAC inspections.

The extra fees involved in a home purchase can make the process feel that much more overwhelming, but don’t let them intimidate you. Our experienced Authentic Real Estate Team has helped countless clients organize their budgets to best manage these expenses, and we can help you too.

Available homes

628 Properties found in this filter
1/53
9291 POINT CYPRESS DRIVE, ORLANDO, FL 32836

Price

$25,000,000

Active
Active
Beds
12 beds
Baths
13 baths
SqFt
14,706 SqFt

MLS #: O5965014 | Single Family Residence

9236 BAY POINT DRIVE, ORLANDO, FL 32819

Price

$6,675,000

Active
Active
Beds
6 beds
Baths
8 baths
SqFt
9,764 SqFt

MLS #: O5854037 | Single Family Residence

13337 KIRBY SMITH ROAD, ORLANDO, FL 32832

Price

$6,200,000

Active
Active
Beds
5 beds
Baths
7 baths
SqFt
9,609 SqFt

MLS #: O5975375 | Single Family Residence

5378 BAY SIDE DRIVE, ORLANDO, FL 32819

Price

$3,950,000

Active
Active
Beds
4 beds
Baths
4 baths
SqFt
5,224 SqFt

MLS #: O5986538 | Single Family Residence

601 JACKSON STREET, ORLANDO, FL 32801

Price

$3,840,000

Active
Active
Beds
2 beds
Baths
1 baths
SqFt
5,000 SqFt

MLS #: O5959225 | Single Family Residence

9202 CROMWELL PARK PLACE, ORLANDO, FL 32827

Price

$3,500,000

Active
Active
Beds
5 beds
Baths
5 baths
SqFt
6,662 SqFt

MLS #: O5977860 | Single Family Residence

9186 BAY POINT DRIVE, ORLANDO, FL 32819

Price

$3,490,000

Active
Active
Beds
4 beds
Baths
4 baths
SqFt
4,167 SqFt

MLS #: O5993236 | Single Family Residence

9131 SOUTHERN BREEZE DRIVE, ORLANDO, FL 32836

Price

$3,395,000

Active
Active
Beds
7 beds
Baths
6 baths
SqFt
8,328 SqFt

MLS #: O5962884 | Single Family Residence

New Listing
New Listing
1521 IVANHOE BOULEVARD, ORLANDO, FL 32804

Price

$2,990,000

Active
Active
Beds
6 beds
Baths
5 baths
SqFt
6,496 SqFt

MLS #: O5998316 | Single Family Residence

19405 LAKE PICKETT ROAD, ORLANDO, FL 32820

Price

$2,900,000

Active
Active
Beds
3 beds
Baths
2 baths
SqFt
3,126 SqFt

MLS #: O5866029 | Single Family Residence

1508 LAKE SHORE DRIVE, ORLANDO, FL 32803

Price

$2,850,000

Active
Active
Beds
4 beds
Baths
3 baths
SqFt
3,612 SqFt

MLS #: O5993042 | Single Family Residence

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