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Who Pays for What

Who Pays for What Page:

 

The Seller Can Generally Be Expected to Pay For:

  • Real Estate Commission
  • Document preparation fee for Deed
  • Documentary transfer tax ($ 1.10 per $1,000.00 of sales price)
  • Any city Transfer/Conveyance Tax (according to contract)
  • Any 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
  • Statement Fees, Reconveyance Fees and any Prepayment Penalties
  • Termite Inspection (according to contract)
  • Termite Work (according to contract)
  • Home Warranty (according to contract)
  • Any judgments, tax liens, etc., against the seller
  • Tax proration (for any taxes unpaid at Transfer of Titler)
  • Any unpaid Homeowner’s dues
  • Recording charges to clear all record against seller
  • Any bonds or assessments (according to contract)
  • Any and all delinquent taxes
  • Notary Fees
  • Escrow Fee
  • Title Insurance Premium

 

The Buyer Can Generally Be Expected to Pay For:

  • Title Insurance Premium
  • Escrow Fee
  • Notary Fees
  • Document preparation (if applicable)
  • Recording charges for all documents in buyer(s) names (according to contract)
  • Homeowner’s transfer fee
  • All new loan charges (except those required by lender for seller to pay)
  • Tax proration (from date of acquisition)
  • Interest on new loan from date of funding to 30 days prior the first payment date
  • Assumption/Change of Records fees for takeover of existing loan
  • Beneficiary Statement Fee for existing loan
  • Inspection Fees (roofing, property inspection, geological, etc.)
  • Home Warranty (according to contract)
  • City Transfer/Conveyance Tax (according to contract)
  • Fire Insurance Premium for first year
  • CC&r’s book (even if the escrow does not close)
  • YOURS OR THEIRS