Who Pays What?

A guide to Escrow Closing Costs...

 
   

The SELLER can generally be expected to pay for:

The BUYER can generally be expected to pay for:

  • Owners Title Policy
  • Real Estate Commission
  • Escrow Fee
  • Sub Escrow Fee
  • Document preparation fee for Deed
  • Request for Demand/s fee
  • Document transfer tax ($1.10 per $1,000 of sales price)
  • City transfer tax (if any)
  • Payoff of all loans in seller’s name (or existing loan balance if being assumed by buyer)
  • Beneficiary Statement Fee Existing Lender
  • Interest accrued to lender being paid off
  • Statement Fees & Reconveyance Fees
  • Termite Inspection & Work (according to contract)
  • Home Warranty (according to contract)
  • Any judgment, tax liens, etc. against the seller
  • Recording charges to clear all documents of record against the seller
  • Tax pro-ration (for any taxes unpaid at the time of title transfer of title)
  • Any unpaid Homeowner’s dues
  • Homeowners transfer & document fee (according to contract)
  • Any bonds or assessments (according to contract)
  • Any and all delinquent taxes
  • Notary Fee
  • Zone Disclosure
  • Title insurance premiums
  • Escrow Fee
  • Sub-Escrow Fee
  • Document preparation (if applicable)
  • Notary Fees
  • Recording charges for all documents in buyer’s names
  • Tax pro-ration (from date of acquisition)
  • Homeowner’s transfer fee/move-in fee
  • All new loan charges (except those required by lender for seller to pay)
  • Interest on new loan form date of funding to 30 days prior to first payment date
  • Assumption /Change of Records fees for takeover of existing loan
  • Fire Insurance Premium for first year
  • Flood insurance if required by lender

 

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