How Much Does It Cost To Buy A Home In Fayetteville, NC?

Real Estate Agent with The Rockel Group 244520

How Much Does It Cost To Buy A Home In Fayetteville, NC?

I often get asked “how much does it cost to buy a home” from first time home buyer’s? I’m really big on showing all the fees that could possibly come up through the home buying process. It’s never fair to a buyer to hit them with additional fees after the fact. This is a very important and a large financial decision. I like to have my buyer’s prepared as much as possible upfront. Of course, not all the fees listed below will happen and with a strong negotiating agent representing the buyer, some of these out of pocket expenses could be negotiated in the contract.

As a buyer please be aware that you could and possibly have some out of cost and up front fees to purchase a new home in the Fayetteville, NC area. Remember that the fees may be different due to the type of the loan you’re approved for. Some of those fees could be:

1. An appraisal fee is an upfront fee paid to the lender before they can order the appraisal on your new home. This needs to be ordered right away to ensure you make your closing date and your home is worth what you're asking. It can range from $375 - $500 This is a buyer’s fee, seller do not pay for this. Appraisals are typically a mandatory lender required fee. Check with your lender, there are some exceptions. Plus, if the appraiser has to go back out and re-inspect the home, it could be an additional $100.

2. A home Inspection ranges from $300 - $450 and due usually at the time of inspection or when ordering it. This is a buyer’s fees, some seller will have a home inspection done when they list their home. Check with your agent, but I strongly recommend never buying a home without a home inspection by a reputable company. This is an optional inspection.

3. Radon inspection ranging from $200 - $300 (if you want one). This is a buyer’s fee and not a mandatory inspection.

4. Termite inspection ranges from $55 - $80. If you are using a VA loan, the seller pays for this as long as it closes. It will be a buyer’s fee if you do not close on the home and you will  have to reimburse the termite company. NC is know for termites.

5. Septic inspection and cleaning can range from $350 - $650. If the seller has not agreed to it in the offer (not all homes are on a septic).

6. Survey’s range from $200 - $900 (not required by lenders in NC). This is typically a buyer’s fee if you want it, but can be negotiated in the offer for the seller to provide.

7. Water and well testing can range from $65 - $150. This is typically a buyer’s cost unless agreed upon in the contract. This is an optional inspection.

8. Buyer’s down payment cost depends on the loan type you are approved for. This can range from $0 for VA, 5% for FHA (with PMI for life of the loan),  5 - 20% for conventional and  $100 - $500 for USDA. Check with your lender, some of these fees can be tacked onto the backend of your loan.

9. Earnest money is money you put down on a home when you write an offer. This shows the seller you are serious about your offer. This money is held in a trust account until the day of closing and typically ranges around 1% of the contract sales price. Your agent can help negotiate the seller paid closing costs and hopefully get you some or all of your earnest money back after closing.

10. A Due Diligence fee is not always required, only if the seller requires it. It could be anywhere from $100 on up. It is a NON refundable fee if you back out of the offer. Now, if you close on the home, this money will be credited back to you at closing. This is a fee the seller will get is you back out of the contract during the inspection period. Check with your agent for specifics.

11. You may also have closing fees, these are fees that are used to set up your initial escrow accounts for taxes, insurance and a few other lender fees. Depending on how much the seller is willing to pay towards your buyer’s closing cost, you could be left with a remaining balance that will be determined with 24-48 hours, if not a few hours prior to closing. That amount will need to be brought to closing in a form of cash, certified check or money order, NOT a personal or business check. Your agent can help negotiate the closing cost when you write your offer.

Not all these fees are mandatory or will apply with the type of loan you have, so don’t be scared.  It’s always good to know how much it could cost you to buy a home in Fayetteville, NC. Of course, as your agent, I will do everything I can to negotiate hard for you and help lower your out of pocket expenses. I will negotiate hard to get you some, if not all your earnest money back at closing. Call 910-583-3817, text, email  or visit my website if you want more information about buying a home!


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Tamara Inzunza
RE/MAX Executives - Alexandria, VA
Close-In Alexandria and Arlington Living

Hi Katrina,

Great list, particularly for first time buyers who may not be aware of all of the costs involved in a transaction.

Mar 13, 2013 01:38 PM #1
Katrina Rockel
The Rockel Group - Harrisburg, NC

Thank you Tamara. I hope this does not scare buyer's :)

Mar 13, 2013 01:41 PM #2
Erin Bates
CMG Financial and Expansion Marketing Services - Aurora, CO

Great blog - and honestly, any buyer that is scared away, is not ready to buy! It is very important that you stick with your guns in my opinion! People should not own a home if they cannot afford it ... and part of affording a home is having the funds for a purchase. I believe that funds invested during the purchase will help the buyers realize the importance of maintaining their property and credit. 

Mar 14, 2013 07:43 AM #3
Shawna Green
Keller Williams Realty-Fayetteville - Fayetteville, NC
The key to your real estate needs!

Great explanation for the buyers!  They need to know up front what costs they may incur!

Mar 14, 2013 10:34 AM #4
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

There are so many expenses involved with the purchase of a new home.  You've provided a great list Katerina, so there should be the minimal amount of surprises.

Mar 14, 2013 12:33 PM #5
Katrina Rockel
The Rockel Group - Harrisburg, NC

Erin, I strongly agree with you and it pains me to see how much some people will struggle to get into a home.

Thanks Shawna

Most people are not aware of the expenses involved in buying a home and I hate surprises myself :)


Mar 14, 2013 12:52 PM #6
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Katrina. You post will be excellent for any Buyer Presentation, especially for our First Time Home Buyers. You Due Diligence sounds like our Termination Option Period in Texas. Buyers here pay sellers a fee for a set amount of days for their inspections, etc. This money is also non-refundable if the buyers terminate the contract, but it is a credit if the buyers move forward and close.

Mar 14, 2013 01:30 PM #7
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Keep up the good work on your blogging. It will pay off. Debbie

Mar 14, 2013 01:31 PM #8
Katrina Rockel
The Rockel Group - Harrisburg, NC

Jerry, that sounds like the same thing. It is only a few years old here and seems to be working really well. Thank you!

Thanks Debbie, I appreciate that.

Mar 15, 2013 12:27 PM #9
Beth and Richard Witt
Long Island Cash Home Buyer - Huntington, NY
Long Island Cash Home Buyer 516-330-6940

This is an excellent post for all buyers... it will make them aware of the cost involved in buying a home regardless of where they buy...Keep up the good work and have a Happy Day...

I'm going to the Gold Star with this one Katrina...

Mar 16, 2013 09:41 PM #10
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance
Katrina, all well said, and it helps to avoid unpleasant surprises further in the purchase process when additional stress is not necessary to our buyers.
Mar 16, 2013 09:49 PM #11
Katrina Rockel
The Rockel Group - Harrisburg, NC

Thank you Richard and Beth and was not really sure what a gold star was, but sounds great!!! Thank you!!! Have a wonderful day.

It makes our jobs easier Norman...we have to set expectations and being up front from the beginning is so important.


Mar 17, 2013 12:58 AM #12
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Hey, Katrina! I included this post in Last Week’s Favorites.  Please drop by and check it out, and enjoy the rest of your weekend.

Mar 17, 2013 02:29 AM #13
Kim Gaston
RE/MAX Advantage Realty - Colorado Springs, CO
Colorado Springs REALTOR®, CNE (719)661-6987

Hi Katrina, excellent advice. Coming over from Patricia's blog to welcome you to the rain. You've addressed a great list of issues most first-time home buyers need to know, and aren't they lucky they have you to guide them. :)

Mar 17, 2013 02:57 AM #14
Katrina Rockel
The Rockel Group - Harrisburg, NC

Thank you so much Patricia!!!

Thank you so much for reading my blog Kim. I remember being a first time home buyer before and was not a fan of surprises.

Mar 17, 2013 12:34 PM #15
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