Who Pays What?

The Seller Will Generally be Expected to Pay For:

  • Real Estate Commission
  • Title and Escrow Fees
  • Document preparation fee for Deed
  • Document recording charges that effect the seller
  • County Transfer Tax ($1.10 per $1,000 of sales price) This varies with county and city
  • Any loan fees required by buyer’s lender
  • Notary fees – Sellers Documents
  • Termite inspection and repairs according to contract
  • Any city transfer/reconveyance tax
  • Special delivery/courier fees
  • Payoff of all loans in seller’s name
  • Interest accrued to old lender, Statement Fees, Reconveyance Fees and any prepayment penalties
  • Homeowner’s association transfer fee and prorate dues (negotiable)
  • Bonds of assessments according to contract
  • Home warranty according to the contract
  • All delinquent taxes
  • Any judgments, tax liens, etc. against the seller
  • Tax proration
  • Recording charges to clear all documents of record against seller

The Buyer Will Generally Be Expected to Pay For:

  • Title insurance premium covering loan policy (ALTA)
  • Notary Fees – Buyer Documents
  • Document preparation fees – Buyer Documents
  • Tax proration
  • Inspection fees (roofing, geological, property, etc.)
  • Homeowner’s transfer fees
  • Special delivery/courier fees
  • All new loan charges (except those required by the lender for the seller to pay)
  • Interest on new loan from date of funding to 30 days prior to first payment date
  • Fire insurance premium for the first year
  • City transfer/reconveyance tax according to the contract
  • Preliminary change of ownership fee
  • Assumption/change of records fees for takeover of existing loan
  • Beneficiary statement fee for assumption of existing loan
  • Other proration if applicable

The above items are negotiable between buyer and seller, as agreed upon in your individual sales contract. This is for informational purposes only.

 

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