CLOSING COSTS

closing_costs

BUYER GENERALLY PAYS:

  • Title Insurance Policy Premiums (Lender’s and Buyer’s)
  • Escrow Fees
  • Notary Fees
  • Property Tax Pro-ration (from acquisition date)
  • Special Delivery/Courier Fees (if required)
  • Document Preparation Fees
  • Document Recording Charges
  • Homeowner’s Association Transfer Fee and Pro-rated Dues
  • Home Warranty (according to contract)
  • Home Inspection Fees
  • Record Against the Buyer Including Tax Liens, Judgments and Fees
  • Insurance Premium For The First Year
  • Lender’s New Loan Charges
  • Interest on Loan From Date of Funding (30 Days Prior to the 1st Payment)
  • Other Pro-rations (rents, insurance, etc.

SELLER GENERALLY PAYS:

  • Real estate commission
  • Notary fees
  • Escrow fee
  • Property tax pro-ration (to date of acquisition)
  • Special delivery/courier fees, if required
  • Document preparation fees
  • Document recording charges
  • Homeowner’s association statement fee and pro-rated dues
  • Home warranty (according to contract)
  • Work/repairs required (according to contract)
  • Matters of record against the property or seller (loans, tax liens, judgments, etc.) and fees required to clear them (statement fees, reconveyance/trustee fees and prepayment penalties)