Some buyer only fees:
- Appraisal Fees: The buyer must have an appraisal completed to verify value and that is a cost paid before closing in most cases. This fee can be any where from $350 to $500 depending on area and size of home. (if financing)
- Inspection fees- While not technically a 'closing cost' a buyer will need to have any home they purchase inspected. These fees are "POC" (paid outside of closing) and like an appraisal can cost several hundred dollars depending on location and size.
- Termite/ WOD Fees- most if not all lenders require a termite inspection prior to closing- this fee would also be POC and the buyer will incur this cost unless using a VA loan.
- Home Warranty- A home warranty can protect you against certain issues at the home. Check with your agent for specifics on this for each company. It is possible that the seller will pay this but be prepared. This can run $450-$500.
- Title Insurance - your lender will require you to purchase title insurance. This will protect them if there is an issue with the title that may have been missed. You can also purchase insurance as well.
- Home Owners Insurance- Of course you will have to have home owners insurance- you most likely will not pay this out of pocket but it will be on your settlement statement and will be a charge to you. This is generally an escrow costs.
- Attorney Fees and Title Fees- There will be buyer paid fees for the document preparation, recording fees and other charges. These will be on your closing statement.
- Closing costs associated with your loan- these vary greatly by lender and cover the costs of the loan processing and other charges. This can be as much as 2% of the loan total and depending on the type of loan possibly higher.