Money needed to prepare for a purchase will vary. I can help you best prepare by talking with you to determine your individual wants and needs. The following will give you an idea of what you will need to have as cash on hand, and when:
- Earnest money (varies from $500-$2000 approximately) *Paid at time of accepted offer.
- Inspection money ($3-500 approximately) *Paid within one week of accepted offer.
- Appraisal money ($4-500 approximately) *Paid within one week of accepted offer.
- Closing costs ($2000 approximately) *Paid at closing.
- Down payment (3.5-20% of purchase price-unless you qualify for 0 down.) *Paid at closing.
These numbers vary depending on the purchase, and how we negotiate the agreement, for instance, you can sometimes ask the seller to pay some of the closing costs for you, and raise your offer price to compensate.