Today’s assignment was to go by the real estate office and take a check for $4oo for the appraisal. Then we talked to an exterminator to set up a time for him to go out and inspect for termites, and provide a “termite letter” to the lender. This just insures there are no termites in the home, and no termite damage. The termite inspection was $45, which will be paid at closing.
I shopped around by telephone yesterday, and got a quote for homeowners insurance. The policy will cost us $857 a year, plus a $25 membership fee to Farm Bureau. I think this will be paid at closing, but I could be wrong. I may have to pay for it before closing. Not sure exactly what the time frame is for it.
I think we have provided everything we needed to the lender. Now we wait for the approval, which we have been told can take up to two weeks.
So far, we have paid the following expenses to get to where we are now: Waiting for approval.
- $500 earnest money
- $150 winterizing fee (to have the house winterized after the appraiser is done and the water is turned off)
- $50 deposit to have the water turned on
- $400 for the appraisal fee
Of that, only the $500 earnest money is refundable if for some reason the loan is not approved. The rest is just the chance we take that our loan WILL be approved. We are both still excited to be buying a house, but it really is a nerve wracking experience so far!
Karen, we have our homeowners through Geico and pay just a little over $500 a year……might want to check it out, now we also have our cars through them.
It does seem like there is a never ending series of fees doesn’t it! Most companies will give you a discount if you get both auto and home through them, it is certainly worth asking about.
I remember these struggles so well when we were buying our second house. The frustration night after night. Good luck!
This weekend we are going house shopping. It’s so long, hard and titius….I’m a very impatient person (kinda because I’ve 3 boys with special needs and don’t have any time to spare for anything)…but I’m so tired of renting and wasting money. I’m an emotional roller coaster because of all of this. Thanks for the pointers and good luck – hope you have a great labor day weekend too!