Who Pays What?

The Buyer can generally be expected to pay for:

Title insurance premium - Lender's policy

Escrow fee (50%)

Document preparation (if applicable)

Notary fees for loan documents

Recording charges for all documents in buyer's name

Tax proration (from the date of acquisition)

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 date

Assumption / Change of Records fees when existing loan is being assumed

Beneficiary Statement fee for assumption of existing loan

Inspection fees (roofing, property inspection, geological, etc.)

Fire insurance premium for first year

The Seller can generally be expected to pay for:

Real estate commission

Title insurance premium - Owner's policy

Document preparation fee for deed

Documentary transfer tax ($1.10 per $1,000 of consideration, exclusive of the value of any lien or encumbrances attaching to the property at time of sale, except for San Francisco.)

Any city transfer / conveyance tax (unless otherwise agreed to by parties according to contract)

Some loan fees required by buyer's lender (VA/FHA)

Escrow fee (50%)

Payoff all loans in seller's name (unless existing loan is 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)

Homeowner's transfer fee

Any judgements, tax liens, etc., against the seller

Tax proration (for any taxes unpaid at time of transfer of title)

Any unpaid homeowner's dues

Recording charges to clear all documents of record against seller

Any bonds or assessments (according to contract)

Any and all delinquent taxes

Home Warranty (according to contract)

Notary fees for deed

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