4 Hours of Parking Validation included w/ Ticket Purchase.
Before they could even finish the paperwork, Sarah and Mike had to open their wallets for early due diligence:
: To show they were serious, they put down about 1% to 3% of the purchase price ($4,000–$12,000) into an Escrow Account , which would eventually count toward their down payment .
: Their bank required an appraisal to confirm the house was actually worth $400,000. This cost them another $350–$1,000 . The "Lender & Legal" Fees fees when buying a house
Here is the story of the fees they encountered on their way to the front door: The "First Impressions" Fees
: A title company charged about $300–$2,500 to search public records and ensure no one else could claim ownership of the home . Before they could even finish the paperwork, Sarah
: The lender charged a fee to process and "underwrite" their mortgage application, often starting at 0.5% to 1% of the loan .
: They paid $300–$500 for a pro to crawl through the attic and check for leaks. This was an out-of-pocket cost paid directly to the inspector . The "Lender & Legal" Fees Here is the
As the closing date approached, the administrative costs—often called —began to stack up, typically totaling 2% to 6% of the loan amount :