Who Pays for What
Items the Seller can generally be expected to pay for:
* Real Estate commission
* Escrow and notary fees
* County 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)
* Applicable city transfer/conveyance tax (according to contract)
* Document preparation fee for Grand Deed
* Any loan fees required by Buyer's lender
* Payoff of all loans in Seller's name (or existing loan balance if being assumed by Buyer)
* Interest accrued to lender being paid off, statement fees, reconveyance fees and any
prepayment panalities
* Termite inspection (according to contract)
* Termite work (according to contract)
* Home Warranty (according to contract)
* 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 assessmnets (according to contract)
* Any and all delinquent taxes
* Title insurance premium: Owner's policy
* Doc Fee - Transaction Coordinator
Items the Buyer can generally be expected to pay for:
* Escrow and notary fees
* Property appraisal
* Document preparation (if applicable)
* Recording charges for all documents in Buyer's name
* Tax proration (from date of acquisition)
* Homeowner's transfer fee
* All new loan changes (expect 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 for take-over of existing loan
* Beneficiary Statement fee for assumption of existing loan
* Inspection fees (roofing, property inspection, geological, etc...)
* Home Warranty (according to contract)
* Fire insurance premium for first year
* Lender's title policy
* Doc Fee - Transaction Coordinator