WHO PAYS FOR WHAT…, BUYER OR SELLER?

 

Buyer Typically Pays For:

  • Closing Agent Fee (Buyer)
  • Title Insurance Premium
  • Document Preparation (if applicable)
  • Recording Fees (for documents in buyer names / as per contract)
  • Homeowner’s Transfer Fee
  • Tax Proration (from date of closing)
  • Documentary Stamps Tax
  • All new loan charges (except those required by lender for seller to pay)
  • Interest on new loan (from date of funding to 30 days prior the first payment date)
  • Assumption Fees & Change of Records Fees (for assuming an existing loan)
  • Inspection Fees (property inspection, roof inspection, termite inspection, etc.)s
  • Home Warranty Premium (according to contract)

 

Seller Typically Pays For:

  • Closing Agent Fee (Seller)
  • Real Estate Broker Commission
  • Real Estate Broker Processing Fee
  • Document Preparation Fee (for deed)
  • Documentary Stamps on Deed Tax
  • Any loan fees required by buyer’s lender (per purchase contract)
  • Payoff of all loans in seller’s name on property
  • Interest accrued to lender being paid
  • Inspection Repairs (according to contract)
  • Any Judgments, Tax Liens, etc… (against the seller)
  • Tax Proration (for any unpaid taxes from the date of closing)
  • Homeowner’s Dues (prorated unpaid balance)
  • Recording Charges (to clear all record against seller)
  • Assessments Due, if any (according to contract)