Vernon Real Estate Buyers Guide Part 2

Survey Certificate Costs:

Occasionally surveys must also be done and they are about $350 on a normal city lot. We at the Jane Field Vernon Real Estate Group try, whenever possible, to obtain any existing survey certificates from the current owners and pass them along to the buyer at no cost to the buyer. This is only workable if there has not been any additions to the home.

Miscellaneous Costs:

With some purchases, engineering tests and extra legal advice may have to be paid but this is uncommon.

Fire Insurance Costs:

Fire insurance premiums must be paid prior to your mortgage funds being advanced. This is a requirement of your mortgage company. Fire insurance costs are around the vicinity of $500 to $1000.

Property Purchase Tax:

If this is your first home, you will not have to pay Property Purchase Tax unless the home costs over $265,500 (in the Vernon area). This is a great perc for starters! Otherwise you will have to pay 1% of the first $200,000 and 2% on the balance. That works out to $2000 on a $200,000 home.

Continue reading the Vernon real estate buyers guide.