It’s a common misconception when it comes to buying a home, all the buyer has to do is have a down payment ready and be pre-qualified for a home mortgage. These two things are the most important parts of buying a home but the third, lesser known part of the process comes with paying the closing costs or fees that come from buying a home.
Seller Pays Commissions
Thankfully, one cost that the Orange County homebuyer doesn’t have to pay is the buyer’s agent or brokers fees. These fees are paid by the seller, at least 99% of the time.
Home Inspection Costs
Yes, home inspections are important because, they can help you to become aware of potential problems like a leaky roof or cracked slab. Before you buy a home, a home inspection report gives you the buyer a full list of what needs to be fixed before you buy the home.
Total fees for a home inspection can range from $200 to $400, depending upon inspector.
Besides a home inspection, a home buyer in Orange County can arrange to have other inspections done on the homes like electrical, plumbing, roof and more, the only thing about having more inspections though is that they will increase the cost of the buying process, but for many buyers, the peace of mind that comes from extra inspections is worth every penny because any problems that arise after the fact can cost much more.
What Are The Total Fees?
Closing costs typically add up to be about 1% of a homes value and any home buyer in Orange County should be prepared for those costs in advance by asking their real estate agent to get them a Buyers Estimate Cost Sheet (Buyers HUD) because. This sheet will itemize the costs they can expect at closing and help them to be better prepared.
To learn more about what costs to expect when buying a home, contact Fred Sed & Associates at (949) 272-0125 today.