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Who Pays For What?
A major question in every escrow is: "Who pays what?" The answers vary by county ordinances and standard practices. What is listed below are "customary" practices. All fees charged are governed by terms of the sales contract and other written escrow instructions. Note: on some FHA, VA or other government-backed loans, the buyer will pay some fees that governmental regulations will not allow you to pay.
Sellers Generally Pay: 1.Real estate commission 2. Document transfer tax ($1.10 per $1,000 of sales price) 3.Notary fees 4. Property tax proration (to date of acquisition) 5. Special delivery/courier fees, if required 6. Document preparation fees 7. Document recording charges 8. Homeowner's association statement fee and prorata dues 9. Home warranty (according to contract) 10.Work/repairs required (according to contract) 11. 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) 12. Bonds and assessments (according to contract) Buyers Generally Pay: 1. Title insurance policy premiums (lender's and Buyer's) 2. Escrow fees 3. Notary fees 4. Property tax proration (from acquisition date) 5. Special delivery/courier fees, if required 6. Document preparation fees 7. Document recording charges 8. Homeowner's association transfer fee and prorata dues 9. City costs 10. Home warranty (according to contract) 11. Inspection fees (according to contract) 12. Matters of record against the buyer including tax liens, judgments and fees required to clear them 13. Fire insurance premium for the first year 14. Assumption/change of records fees if the buyer is taking over an existing loan 15. Lender's new loan charges 16. Interest on new loan from date of funding to 30 days prior to the first payment 17. Other prorations (rents, insurance etc.) if applicable
A major question in every escrow is: "Who pays what?" The answers vary by county ordinances and standard practices. What is listed below are "customary" practices. All fees charged are governed by terms of the sales contract and other written escrow instructions. Note: on some FHA, VA or other government-backed loans, the buyer will pay some fees that governmental regulations will not allow you to pay.
Sellers Generally Pay: 1.Real estate commission 2. Document transfer tax ($1.10 per $1,000 of sales price) 3.Notary fees 4. Property tax proration (to date of acquisition) 5. Special delivery/courier fees, if required 6. Document preparation fees 7. Document recording charges 8. Homeowner's association statement fee and prorata dues 9. Home warranty (according to contract) 10.Work/repairs required (according to contract) 11. 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) 12. Bonds and assessments (according to contract) Buyers Generally Pay: 1. Title insurance policy premiums (lender's and Buyer's) 2. Escrow fees 3. Notary fees 4. Property tax proration (from acquisition date) 5. Special delivery/courier fees, if required 6. Document preparation fees 7. Document recording charges 8. Homeowner's association transfer fee and prorata dues 9. City costs 10. Home warranty (according to contract) 11. Inspection fees (according to contract) 12. Matters of record against the buyer including tax liens, judgments and fees required to clear them 13. Fire insurance premium for the first year 14. Assumption/change of records fees if the buyer is taking over an existing loan 15. Lender's new loan charges 16. Interest on new loan from date of funding to 30 days prior to the first payment 17. Other prorations (rents, insurance etc.) if applicable
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For Sellers
Finding a Good Agent
Benefits of a Seller's Agent
Preparing To Sell Your Home
Getting Prepared To Sell Your Home
What's Your Style?
Selling Your Home In The Winter
Showing Checklist
Relocating Tips
Pricing Your Home
The Challenges of Pricing Your Home
How To Pricel
Listing Your Property
What Happens When Your Home Is Listed?
Purchase Offers
Understanding Offers
Evaluating An Offer
Closing The Deal
Managing The Details
Seller Disclosures 101
Who Pays For What?
Finding a Good Agent
Benefits of a Seller's Agent
Preparing To Sell Your Home
Getting Prepared To Sell Your Home
What's Your Style?
Selling Your Home In The Winter
Showing Checklist
Relocating Tips
Pricing Your Home
The Challenges of Pricing Your Home
How To Pricel
Listing Your Property
What Happens When Your Home Is Listed?
Purchase Offers
Understanding Offers
Evaluating An Offer
Closing The Deal
Managing The Details
Seller Disclosures 101
Who Pays For What?
Where Buyers and Sellers Meet!
Pro Realty Inc. (814) 825-7761
Fax: (814) 825-1798
Email: pro@prorealty.com
Pro Realty Inc. (814) 825-7761
Fax: (814) 825-1798
Email: pro@prorealty.com