Earnest Money Deposit- this money is “good faith money” you submit when writing an offer. This money is held by your buyer agents company is a non interest bearing account. This money is at risk when all contract contingencies expire.
Home Inspection/Radon Inspection fees- this money is paid at the time of the inspection to the inspectors. Inspection fees are based on square footage of homes, and can range from $300-$500 or more. Radon tests range from $110-$140.
Appraisal Fees- These fees are paid to the lending company and are paid to the appraisal company. There are different fee structures depending on your financing.
- FHA: $470
- VA: $400
- Conventional: $395
All other fees related to the home buying process are reflected on the HUD 1 settlement statement. I will create an “estimated purchasers net sheet” for you and you will receive a good faith worksheet from your lender.