Buyer - Frequently asked questions

What is the cost of buying a home?

Earnest Money Deposit (Binder Deposit)

$1,000 - $5,000 (depending on purchase price)

*Your Earnest Money Deposit will go towards the purchase price of the home and is due 3-5 days after the contract is execute*

Pre-Paid Items Include but not limited to:

Home Inspection - $350 - $500
Wood Destroying Organisms (WDO) Inspection - $100 - $175
4 Point Inspection - $100 - $200
Pool Inspection - $300 - $500
Septic Inspection - $225 - $500
Well Inspection - up to $200
Mold Inspection - $125 per sample. 1 sample per 800 square feet
Transaction Fee - $299 - $350

*Not all inspections are required. These cost will be paid prior to closing. (A home inspection is NOT required, but highly recommended)*

Appraisal

$350- $600

Closing Cost

Range from 3%-5% minimum of the Purchase Price

Down Payment

Depends on the lender, type of financing and loan amount

Will I need to get pre-qualified or show proof of funds before seeing homes?

If you are not paying with cash, it is highly recommended that you speak with a mortgage loan officer before seeing any properties. Every seller is going to want to know if a buyer will be paying cash or have been pre-qualified by a loan officer before entering the home. Please provide me with a copy of proof of funds or a qualification letter before requesting to see homes. Having this information before we go out to the home puts us in position for great negotiating with the seller.

What is a home warranty, what does it cover, and how much does it cost?

Think of your systems and appliances like the heartbeat of your home, working in the background to support your lifestyle. When they malfunction, you can rest easy knowing that a home warranty is there for you with comprehensive repair and replacement coverage.
Covered

Heating System
Air Conditioning
Water Heater
Oven/Range
Refrigerator
Washer/Dryer
Plumbing

**The list above are examples of items covered** Click here to see a full list. Please contact Angela Wilson (800) 282 -7131 ext. 1339 Email: angelaw@orhp.com for a full list and more information.

Buyer - Frequently asked questions

What is the cost of buying a home?

If I am buying a home, how much will I have to pay to use you as my REALTOR®?

Will I need to get pre-qualified or show proof of funds before seeing homes?

What is a home warranty, what does it cover, and how much does it cost?

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The Buying Process

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