CLOSING COSTS

Customary division of fees between buyers & sellers

The seller can generally be expected to pay for:

  • Real estate commission

  • Owners title insurance policy

  • One half of the sub-escrow fee

  • Seller’s escrow fee and processing fee

  • Homeowner’s transfer fee-according to

    contract

  • Documentary transfer tax

  • City transfer or conveyance tax

  • Loan fees required by buyer’s lender –

    fha/vha

  • Document preparation fee for the deed

  • Payoff all loans in seller’s name

  • Interest accrued to lender being paid off,

    statement fees, reconveyance fees and

    prepayment penalties

  • Termite inspection – according to contract

  • Termite work – according to contract

  • Home warranty – according to contract

  • Any judgements, tax liens, etc. against

    seller

  • Tax proration (for any taxes unpaid at

    closing)

  • 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

  • Notary fees

  • Natural hazard report

  • Messenger fees