Getting ready to buy a new home? Pulling together your down payment is a major undertaking on its own, but don’t forget other critical expenses you’ll need cash for.
The following items are considered “POC” items or Paid Outside Closing. This means these are expenses a buyer needs to pay for out of pocket before closing on their home purchase.
Appraisal Paid to an appraiser once the home is under contract. Cost is typically $250 to $350.
Home Inspection Paid to a home inspector once the home is under contract. Cost is typically $200 to $300.
Termite Inspection Paid to a termite inspector once the home is under contract. Cost is typically $100 to $150.
Mold Inspection Paid to a mold inspector once the home is under contract. Cost is typically $125 to $175.
Some service providers can provide a “package deal” to provide all three inspections – home, termite and mold – for one flat fee. Cost is typically $300 to $400.
Property Insurance Paid to your insurance agent before closing. Cost varies and depends on the kind of home you’re buying, age, construction and amenities.
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