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What Do We Pay? PDF Print E-mail

The SELLER can generally be expected to pay for:

  • Real Estate Commission
  • Document preparation fee for deed
  • Documentary transfer tax ($1.10 p/ $1000.00 of sales price)
  • Any city Transfer/Conveyance Tax (recording Tax)
  • Any loan fees required by buyers 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 Penalties.
  • Termite Inspection - according to contract
    (can be paid by either buyer or seller)
  • Termite work (according to contract)
  • Home Warranty (according to contract)
  • Any judgments, tax liens, etc. against the seller
  • Tax proration (for any taxes unpaid at the time of title transfer)
  • Any unpaid home owners dues (can be paid by either buyer or seller)
  • Recording charges to clear all documents of record against seller
  • Any bonds or assessments (according to contract)
  • Notary fees, title & escrow fees, and Title Ins. Premium

The BUYER can generally be expected to pay for:

  • Title insurance premium
  • Interest on new loan (from date of funding to 30 days prior to first payment due)
  • Assumption/Change of Records fee for takeover of existing loan
  • Recording charges for all documents in buyers name
  • Termite Inspection - according to contract (can be paid by either buyer or seller)
  • Tax Proration (from date of acquisition)
  • Beneficiary Statement Fee for assumption of existing loan
  • All new loan charges (except those required
    by lender for seller to pay)
  • Escrow Fee
  • Notary Fees
  • Homeowner's Transfer Fee
  • Any unpaid Homeowners dues can be paid by either buyer or seller
  • Inspection Fees (roofing, property inspection, geological, etc.)
  • Home Warranty (according to contract)
  • City Transfer/Conveyance Tax (according to contract)
  • Fire Insurance Premium for first year
 
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