Real estate’s most important ingredient: Money, money, money

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A home, be it a condo or a mansion, is the single most expensive purchase most people will ever make in their lives.

The price paid for said home is the biggest ticket item in the purchase transaction. But there are some other costs associated with buying and selling a home you might want to keep in mind and figure into your budget.

For buyers, the first extract from your piggy bank is the initial deposit, which can be paid by wire transfer or personal check delivered to the designated escrow office. It is usually 1 percent of the purchase price and usually due within three days from the date of the purchase contract is accepted by both sides.

Next will most likely be your home inspection, which you can sometimes pay online with a credit card. But if your lender told you not to put ANY charges on your credit cards before your loan is approved, funded and you close…

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