In this purchase costs checklist, you’ll find many of the items you may end up paying for when buying a house to flip.
You can read in-depth descriptions of all of the costs that you may encounter when planning out a fix and flip in this post: House Flipping Project Costs: Purchase, Sale and Holding
Wholesale Fee
Wholesalers charge this fee when bringing you off-market deals.
Commission
If you are using an agent for an off-market deal then you will be the one to compensate that agent for his or her services. For on-market deals, this is typically paid by the listing agent sharing his commission.
Broker Fee
This fee is often added when using a realtor for your transaction.
Title Search
A title search is run on the potential property in order to uncover any clouds on the title before you commit to purchasing the property.
Title Insurance
Owner’s title insurance will protect against any issues the title search did not find.
Lender’s title insurance may be required if you are borrowing funds.
Inspection
Inspection of the property by a professional may be needed if you suspect any underlying issues that are not immediately visible.
Appraisal
Used to verify accuracy of an After Repair Value.
Closing
Settlement fees such as escrow.
Transfer Tax
A state, county, or city tax paid when transferring real property.
Legal Fees
An attorney charges these fees for document review and other legal items.
Download Free House Flipping Purchase Costs Checklist PDF
Download Free House Flipping Purchase Costs Checklist Excel
Sale and Holding Costs
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