It’s important to understand the buyer closing costs you’ll need to pay.
Today I want to tell you about buyer closing costs. Buyer closing costs are the additional money you need to bring to the closing table outside of the price of the home.
The first buyer closing cost you’ll encounter is your home inspection. When you get a home inspection, you pay the inspector outside of escrow. The next buyer closing cost is the appraisal. The appraisal is typically paid outside of escrow to your loan officer so they can get the appraisal ordered. Those are two costs that you do not get back.
The settlement statement will outline all of the other costs associated with your home purchase. There could be lender, escrow, or title recording fees, and you may have to compensate your buyer’s agent. If the seller isn’t paying a full 3%, you’ll have to cover the difference. These buyer closing costs are in addition to your down payment, so consult with me when you’re ready to buy. I’d love to help!
You can reach out to me by phone or email. I look forward to hearing from you.