Closing Cost Guide
Seller can generally expect to pay for:
v Owner’s title insurance premiums
v Real estate commission
v ½ of the escrow fee
v Any loan fees required by buyer’s lender (according to contract)
v Payoff of all loans
v Interest accrued to lender being paid off, statement fees, reconveyance fees and any prepayment penalties
v Termite work (according to contract)
v Home warranty (according to contract)
v Any judgments, tax liens, etc. against the seller
v Recording charges to clear all documents of record against seller
v Tax proration (for any taxes unpaid at the time of transfer of title)
v Any unpaid homeowner’s association dues
v Any bonds or assessments (according to contract)
v Any and all delinquent taxes
Buyer can generally expect to pay for:
v Lender’s title policy premiums
v ½ of the escrow fee
v Document preparation (if applicable)
v Notary fees (if applicable)
v Homeowners’ association transfer fee
v All new loan charges (except those required by lender for seller to pay)
v Interest on new loan from date of funding to 30 days prior to first payment
date
v Home warranty (according to contract)
v Fire insurance premium for first year
v All pre-paids
v Termite inspection if placed in escrow by the buyer, cost is negotiable.
