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Answers (4)
- wetdawgs
- Contributions:26854
Normally these costs are covered by the buyer.
- Anna Stout, "Anna Stout"
- Contributions:71
Ditto Irena and Michael. Also if you are the Seller and you order an Inspection which reveals defects, who will be required to disclose on the Sellers Disclosure if not repaired.
Also some lenders require the Buyers pay for the appraisal upfront. So make sure you have enough cash on hand for these items.
Also some lenders require the Buyers pay for the appraisal upfront. So make sure you have enough cash on hand for these items.
- Irena Gorski, SFR, ALHS, "Irena Gorski"
- Contributions:99
A buyer's lender is ordering an appraisal to evaluate the value of the house being purchased, before they lend a buyer any money. So buyer is paying for the appraisal. Regarding a home inspection, if seller wants to hire a home inspector before puts a house on the market, then of course a home seller pays for home inspection. I always recommend this to home sellers, since having home inspection done save on surprises down the road and home sellers can make necessary repairs before their house goes on the market. If inspection is ordered by a home buyer, then of course buyer is paying for this.
- Michael Emery, "MikeEmery"
- Contributions:7298
Only if they are asked but typically no.
If your buyer requests that you pay for the home inspection the report belongs to you and not the buyer.
And the bank will hire their own appraiser (which is tacked onto closing costs for the buyer). So they would have to specifically request that they be reimbursed at the closing table for the cost of the appraisal. In other words, you couldn't go out and arrange your own personal appraisal as the bank most likely won't accept it and would order their own.
If they want you to cover the cost of appraisal and inspection they should just offer less money to compensate for the cost.
If your buyer requests that you pay for the home inspection the report belongs to you and not the buyer.
And the bank will hire their own appraiser (which is tacked onto closing costs for the buyer). So they would have to specifically request that they be reimbursed at the closing table for the cost of the appraisal. In other words, you couldn't go out and arrange your own personal appraisal as the bank most likely won't accept it and would order their own.
If they want you to cover the cost of appraisal and inspection they should just offer less money to compensate for the cost.
do sellers normally pay appraisal nad home ibspections
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