Definition of "Acquisition cost"

Lisa Briganti real estate agent
Lisa Briganti, Real Estate Agent RE/MAX RESULTS

Total price of purchasing property, including the amount of the property, cost of appraisal fees, attorney's fee, commission, credit report, hazard insurance, document preparation fee, loan application fee, mortgage insurance application fee, mortgage insurance premium, mortgage taxes, pest inspection, property survey, tax stamps. And title insurance.

Have a question or comment?
We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 
 

Comments for Acquisition Cost


Gloria Murphy Gloria Murphy said:

Just purchase a home and want to sell it after living here for about 1 year. Need to know how much we can make on the house without being taxed?

May 30, 2020  13:24:07

 
Real Estate Agent

Hey, Gloria! If you want to determine the value of your home, you need to get in touch with a professional appraiser or find a real estate agent near you that can help evaluate the value of your property. You can go to our directory page linked above and search for an agent either by typing in the Zip code or the area your property is located. Also, if you need help you can contact us via live chat or directly at the following phone number 1-866-495-4953

Jun 05, 2020  09:00:20
 
Oya Mayo Oya Mayo said:

which apps can i find thw best real estate networking communities

Aug 22, 2018  10:42:38

 
Real Estate Agent

As a homeowner or real estate agent?
There are so many... but we like How Real Estate Agents can utilize Houzz both with their existing (and potential) clients but also to network with architects, decorators, home stagers etc.

Aug 27, 2018  11:55:58
 
Oya Mayo Oya Mayo said:

suppose I borrow money ,as an investor,to buy a house .Explain to me how I could take an acquisition fee and how the overall sum would be payed back to my private lender

Aug 04, 2018  09:38:13

 
Real Estate Agent

Hello Oya
Thank you for reaching out!

An acquisition fee is a sort of administrative fee that lenders set up for their work arranging the loan. It can be paid as a one-time thing that you pay upfront if you negotiate so - the values typically aren't that big, so it's doable. But it's more common to water down the acquisition fee inside the monthly installments. For instance: instead of paying $800 in one shot, you will include $20 on your monthly payment of $1000, leading to a mortgage of $1020 a month. for 40 months.

Hope we cleared that one for you! Good luck!

Aug 06, 2018  09:31:25
 

 

Popular Real Estate Terms

Popular Real Estate Questions