Sara McCartan
SALES - LEASING - CONSULTING
Cell: 949-280-8900     Cal BRE Lic # 01336756
WHO PAYS FOR WHAT? A GUIDE TO CLOSING COSTS

 SELLER

  • Homeowners' Title Policy
  • Real Estate Commissions
  • Document preparation fee for Deed
  • Documentary transfer tax ($1.00 per $1,000 of sales price)
  • City Transfer/Conveyance Tax (according to contract)
  • Any FHA or VA 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 paid off, statement fees, conveyance fees and any prepayment penalties
  • Termite inspection (according to contract)
  • Termite work (according to contract)
  • Home Warranty (according to contract)
  • Any Judgment, Tax Liens, etc. against the Seller
  • Recording charges to clear all documents of record against Seller
  • Tax proration (for any taxes unpaid at time of transfer of title)
  • Homeowners' Transfer Fee (according to contract)
  • Any unpaid Homeowners' Assocation dues
  • Any bonds or assessments (according to contract)
  • Any and all delinquent taxes
  • Notary Fees
  • Escrow Fees (50%)
  • Seller's portion of Sub-Escrow Fee
  • Demand Fees

BUYER

  • Title Insurance premiums (ALTA Loan Policy)
  • Escrow Fee (50%)
  • Document Preparation (if applicable)
  • Notary Fees
  • Recording charges for all documents in Buyer's name
  • Tax proration (for date of occupancy)
     
  • Homeowners Transfer Fee (according to contract)
  • All new loan charges (except those required by Lender for Seller to pay)
  • Assumpion Change of Record for takeover of existing loan (if applicable)
  • Beneficiary Statement Fee for assumption of existing (if applicable)
  • Third Party Inspection (property, roofing, geological, mold, etc.)
  • City Transfer/Conveyance Tax (according to contract)
  • Fire Insurance premium for first year
  • Buyer's portion of Sub-Escrow Fee
  • Escrow Loan Tie-In Fee (if applicable)

** Some of these fees are more negotiable between the Buyer and Seller than others.  In a bank owned property (REO) or a short sale, many of these rules change - please call me for detailed information. 


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Berkshire Hathaway Home Services - California Propertites
2 Ritz Carlton Drive Suite 101 • Monarch Beach, CA 92629
Cell: 949-280-8900 • Cal BRE Lic # 01336756



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