Who pays for what in Real Estate?

There are a lot of expenses to consider when purchasing or selling a home. Let me know if you have any questions.

WHAT THE BUYER GENERALLY PAYS FOR...

• Lender’s Title Insurance Premium

• Escrow Fees

• Recording charges for all documents in buyer’s name

• Tax proration (from date of acquisition)

• Homeowner’s Transfer Fee

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

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

• Assumption/change of Records fees for take-over of existing loan

• Beneficiary Statement Fee for assumption of existing loan

• Inspection Fees (roof, property inspection, geological, termite, etc.)

• City Transfer/Conveyance Tax

• Fire insurance premium for the first year

• Notary Fees

• Courier Fees

WHAT THE SELLER GENERALLY PAYS FOR...

• Real Estate Commissions

• Owner’s Title Insurance Premium

• Document Preparation Fee for Deed

• Document Transfer Tax

• Any City Transfer/Conveyance Tax

• Any Loan Fee required by buyer’s lender

• Payoff of all loans in sellers’ name (or existing loan balance if being assumed by buyer)

• Interest accrued to lender being paid off

• Statement Fees, Reconveyance Fees and any loan prepayment penalties

• Termite Inspection and work

• Home Warranty

• Any judgments, tax liens, etc., against the seller and recording charges to clear all documents of record against seller

• Tax Proration (for any unpaid taxes up to time of transfer of title)

• Any unpaid Homeowner’s Dues

• Homeowner’s Association Document Fee

• Any bonds or assessments

• Any and all delinquent taxes

• Notary Fees

• Courier Fees