Homebuyers Invest Early for a Smooth Closing Process

Homebuyers typically spend around $1,500 upfront for loan approval, inspections, and appraisals before closing escrow. Costs include credit reports (up to $200 for couples), earnest money deposits (usually 1-3% of the home price), home inspections (~$650), appraisals ($600-$900), termite inspections (~$120), and HOA document fees ($350-$900). Some fees may be refundable or waived, but many are non-refundable if escrow falls through.