Who Pays For What?

The SELLER can generally be expected to pay for:

• Standard CLTA owner’s Title Insurance
• 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 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.
• Termite Inspection (according to contract)
• Termite 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 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
• Notary Fees
• Escrow Fee (50%)
• Seller’s portion of Sub-Escrow Fee
• Demand Fees

The BUYER can generally be expected to pay for:

• Title insurance premiums (ALTA Loan Policy)
• Escrow Fee (50%)
• Document preparation (if applicable)
• Notary Fees
• Recording changes for all documents in Buyer’s names
• Termite Inspection (according to contract)
• Tax proration on (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.)
• Home Warranty (according to contract)
• City Transfer/Conveyance Tax (according to contract)
• Fire Insurance Premium for first year
• Buyer’s portion of Sub-Escrow Fee
• Escrow Loan Tie-In Fee