“Hidden” out of pocket costs

[frankysmom]

Hi all

What are the “hidden” or unspoken service professional costs in buying a home?

I’m more than likely going to buy a foreclosed property in need of s full rehab so I know that a general contractor, architect/designer will be needed. An expediter to process permits, anyone else?

What’s been your experience? Thanks

[Nelsont]

Home inspection, pest control, chimney inspection (separate inspection not done by your home inspector), any kind of special tests like mold, radon or carbon monoxide.

Any repairs rehab or not will need to be re-inspected. If you use the same inspector they might cut you a deal.

[Nelsont]

Well and septic inspection also not done by your home inspector. Possibly have your local municipality install replace or address gas and water lines. Your local utility company will need to address the power lines.

[Klassy]

Two that ALMOST caught me by surprise were the HOA Capital contribution and HOA Set up fees.

[Author]

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