A. In addition to the down payment, the other costs include the home inspections, closing costs and pre-paid items. The costs for home inspections will vary based on the type of inspection you choose to perform and can include:
- Home inspection
- Wood destroying insect inspection
- Mold inspection
- Radon inspection
- Chimney Inspection
- Well inspection
- Septic inspection
- Environmental inspection
- Water quality inspection.
You will pay a la carte for each of these inspections.
Closing costs are the costs of the various service providers in the process, including:
- Your lender
- Your realtor
- Title company
- Governmental fees
- Per Diem Interest
Pre-paid items include funds that is placed in an escrow account for the purpose of paying your future property tax and homeowners insurance bill. Pre-paid items are only collected and placed in an escrow account if you are obtaining a mortgage. Cash purchases do not have pre-paid items or an escrow account.