: To show they were serious, they put down about 1% to 3% of the purchase price ($4,000–$12,000) into an Escrow Account , which would eventually count toward their down payment .
Finally, at the closing table, Sarah and Mike had to "prepay" for certain future expenses: fees when buying a house
Before they could even finish the paperwork, Sarah and Mike had to open their wallets for early due diligence: : To show they were serious, they put
: Their bank required an appraisal to confirm the house was actually worth $400,000. This cost them another $350–$1,000 . The "Lender & Legal" Fees The "Lender & Legal" Fees : Their local
: Their local county charged $20–$250 just to update the public records with their names as the new owners . The "Advance Payment" Fees
More than a Mortgage: Eight Surprising Costs of Buying a Home