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| Real Estate |
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| Helpful Resources |
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Who pays for what?
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The
"seller" generally pays: |
The
"buyer" generally pays: |
- Real estate commission
- One-half escrow fee (subject to customary
regional practice)
- Premium for Owner's Policy of Title
Insurance
- Documentary transfer tax
- Document preparation for deed
- Payoff of all loans in seller's name
- Ordering Demand Fee from escrow
- Accrued interest to lender being paid off,
statement fees, reconveyance fee, and any prepayment
penalties
- Termite inspection and/or work (Negotiable;
according
to contract)
- Pool, roof, septic or other inspections
(according to contract)
- Home Warranty (Negotiable; according to contract)
- Natural Hazards Report
- Any judgments, tax liens, etc. against the
seller
- Tax proration (for any taxes unpaid at time
of transfer of title)
- Recording charges to clear all documents of
record against seller
- Any unpaid homeowners dues
- Homeowners association transfer fee
(according to contract)
- Any bonds or assessments (according to
contract)
- Any and all delinquent taxes
Note: On some FHA, VA or other government
backed loans, the seller would pay some loan fees that the
buyer cannot pay due to lender requirements. |
- One-half escrow fee (subject to customary
regional practice)
- Premium for Lender's Policy of Title
Insurance
- Document preparation (if applicable) to
prepare docs
- Notary Fees (notary fee is never charged on
First American Title transactions)
- Recording charges for all documents in
buyer's name
- Termite Inspection and/or work (Negotiable;
according
to contract)
- All new loan charges (except those required
by lender for seller to pay - see note)
- 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 (property inspection,
geological, etc.)
- Tax proration (from date of acquisition)
- Homeowners dues proration (from date of
acquisition)
- Home Warranty (Negotiable; according to contract)
- Fire (and Flood, if applicable) Insurance
premium for the first year
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