Guide To Closing Costs

The SELLER can generally be expected to pay for:

  • Standard CLTA Owner’s Title Insurance
  • Escrow Fee (Seller’s portion, according to contract)
  • Document Preparation Fee for Deed
  • Notary Fees
  • Seller’s Portion of Sub-Escrow Fee
  • Termite Inspection (according to contract)
  • Termite Work (according to contract)
  • Documentary Transfer Tax ($1.10 per $1,000.00 of sales price)
  • Any City Transfer/Conveyance Tax (according to contract)
  • Any FHA or VA Loan Fees Required by Buyer’s Lender
  • Payoff of all Loans in Seller’s Name (or existing loan balance if being assumed by Buyer)
  • Interest Accrued to Lender Being Paid Off Statement Fees, Reconveyance Fees, and any Prepayment Penalties
  • Home Warranty (according to contract)
  • Any Judgment, Tax Liens, etc. Against Seller
  • Recording Charges to Clear All Documents of Record Against the Seller
  • Tax Proration (for any taxes unpaid at time of transfer of title)
  • Any Unpaid Homeowner’s Dues
  • Any Bonds or Assessments (according to contract)
  • Any and All Delinquent Taxes
  • Demand Fees

 

The BUYER can generally be expected to pay for:

  • Title Insurance Premiums (ALTA Loan Policy)
  • Escrow Fee (Buyer’s portion according to contract)
  • Document Preparation (if applicable)
  • Notary Fees
  • Buyer’s Portion of Sub-Escrow Fee
  • Termite Inspection (according to contract)
  • Recording Changes for All Documents in Buyer(s) Name(s)
  • Tax Proration (for date of acquisition)
  • Homeowner’s Transfer Fee
  • All New loan Charges (except those required by Lender for Seller to pay)
  • Assumption/Change of Record Fees for Takeover of Existing loan
  • Recording Charges to Clear All Documents of Record Against Buyer
  • Beneficiary Statement Fee for Assumption of Existing Loan
  • Inspection Fees (roofing, property, inspection, geological, etc.) (according to contract)
  • Home Warranty (according to contract)
  • City Transfer/Conveyance Tax (according to contract)
  • Fire Insurance Premium for First Year
  • Escrow Loan Tie-In Fee

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