Expenses In the real estate industry, out-of-pocket expenses are any costs incurred by the buyer during the sale process that are not covered by the mortgage.
These costs can include loan origination fees, attorney fees, and property taxes.
As well as the cost of a home inspection, appraisal fees, and deposits for escrow accounts.
These costs can vary depending on the real estate and property in the area.
Lisa has a $2,500 consolidated deductible. She has proactively paid $2,350 in personal costs.
Toward her deductible and presently needs to buy $150 worth of professionally prescribed medication.
Lisa’s personal expense will be $150. However, her annual combined deductible has been met.
