Posted by dewCO on November 10, 2001 at 20:18:34:
The closing costs on a tradional loan usually come out to about 3% of the purchase price, but they aren’t figured as a percentage item—each has it’s own “actual” cost, i.e., the appraisal will be about $350, the processing fee will be about $150, etc., etc.
The lender will order the appraisal, after you’ve done your inspection (which is after you have an accepted contract), and paid the lender for the appraisal.