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WHO PAYS WHAT?

There is always confusion about closing costs - whether you are buying or selling.

Let's talk about things the Seller generally is expected to Pay For:

  • Real Estate Commission
  • CLTA/ALTA Owner's title insurance policy
  • Escrow Fee (50%)
  • Seller's portion of sub-escrow fees
  • Document preparation fee for grant deed
  • Notary Fees
  • Document transfer tax ($1.10 per $1,000 of sale price)
  • Any loan fees required by Buyer's Lender
  • Payoff of all loans in Seller's name
  • Interest accrued to Lender being paid off, Statement Fees, Reconveyance Fees and Prepayment Penalties
  • Any judgments, tax liens, etc. against the seller
  • Recording charges to clear all documents of record against the seller
  • Any and all delinquent taxes
  • Tax prorations (for any taxes unpaid at the time of transfer of title)
  • Any unpaid Homeowner's dues
NEGOTIATED IN THE CONTRACT
  • City Transfer/Conveyance Tax
  • Termite Inspection
  • Termite Repairs
  • Home Warranty
For a list of Buyer fees - check under the Buyer Tab for Buyer Closing Costs