Costs To Purchase a House in Worcester in 2025
What are the costs associated with buying a house in Worcester? Good question!
Many people want to know the expenses associated with the purchase of a property. In addition to the purchase price of the property, there are other costs to consider, which will vary with each transaction.The expenses will vary based on your unique situation, but you can probably expect to see the following line items:
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Home inspection - approximately $400-600. This is an important component! No matter your level of expertise, it's never a bad idea to get a home inspection. Other inspection costs can include termite/pest inspection, lead paint inspection, radon test, well water quality test, etc.
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Attorney fee - approximately $800-1200.
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Title Examination and Certification (outside of Worcester and contiguous towns) - $300-500. Lender Title Insurance Policy costs approximately $3.00 per thousand; an owner may obtain Owner Title Insurance Policy for an additional fee.
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Fees charged by lending bank - application fee, processing fee, attorney fee.
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Appraisal - usually $400-600 for residential property (1-4 units)
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Prepaid costs - mortgage interest, real estate taxes, homeowner insurance policy, water/sewer bill, condominium fees, oil-in-tank (if applicable).
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Escrows, if required, for real estate taxes, property insurance, mortgage insurance.
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Costs associated with your loan - Private Mortgage Insurance for buyers with less than a 20% down payment; 'Points' added to loan; FHA Mortgage Insurance Premium; VA loan fees.
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Certificate of Municipal Liens, payable to City/Town, certifying that there are no municipal liens on the property.
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Recording fees for deed, mortgage, and municipal lien certificate - approximately $500.
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Plot plan - $150-300.
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Buyer Agent Compensation - varies; negotiable between you and your agent; may be negotiated as part of the offer to the seller.
Due to the variablity of these fees, talk with your mortgage broker and attorney regarding what you can expect to pay.
