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WHO PAYS FOR WHAT?

SELLER

  • Real Estate Commission

  • Document preparation fee for Deed

  • Documentary transfer tax

  • 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 off, 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 time of transfer of title)

  • Any unpaid Homeowner’s dues

  • Title Insurance Premium

  • Recording charges to clear all documents of record against seller

  • Any bonds or assessments (according to contract)

  • Any and all delinquent taxes

  • Notary Fees

  • Escrow Fee 

BUYER

  • Title Insurance Premium

  • Escrow Fee

  • Notary Fee

  • Document Preparation (if applicable)

  • Recording charges for all documents in buyer's name

  • Termite Inspection (according to contract)

  • Tax proration (from date of acquisition)

  • Homeowner's transfer fee

  • All new loan charges (except those require by the lender for seller to pay)

  • Interest on new loan from date of funding to 30 days prior to first payment date

  • Assumption/Change of Records fees for takeover of existing loan

  • Beneficiary Statement Fee for assumption of 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

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