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November 26, 2018

Who Pays For What Is In The Real Estate Transaction?

Who Pays For What Is In The Real Estate Transaction

The Seller
 Generally Pays:
 

  • Real Estate Commission

 
  • Escrow Fees (50%)

 
  • Document Preparation Fee

 
  • Documentary Transfer Tax ($1.10 per $1000 of sale)

 
  • Any loan Fees Required by Buyer’s Lender (Government Loans)

     

  • Pay Off Of All Loans in Seller’s Name
• Interest Accrued to Lender Being Paid Off

     

  • Termite Inspection (According To Contract)

     

  • Home Warranty (According to Contract)

     

  • Any Judgments, Tax Liens, etc. Against the Seller

 
  • Tax Proration
• Any Unpaid Homeowner’s Dues

 
  • Any Bonds or Assessments (Check Contract)

     

  • Any & All Delinquent Taxes
• Homeowner’s Title Insurance Policy Premium

     

  • Homeowner’s Association Transfer Fee-Doc Fess

     

  • Zone Disclosure Report


The Buyer
Generally Pays:
 

  • Title Insurance Premium for Lender’s Policy

     

  • Escrow Fee (50%)

     

  • Document Preparation (if applicable)

     

  • Recording Charges for All Documents in Buyer’s Name

     

  • Termite (According to Contract)
• ALL New Loan Charges ( Except Those Paid by seller-Government Loans)

     

  • Interest on New Loan From Date of Funding to 30 Days Prior to First Payment Date

     

  • Assumption/Change of Records Fee for

     

  • Take-Over of Existing Loan

     

  • Inspection Fees (Proper Inspection, Roofing, Geological, etc.)

     

  • Fire Insurance Premium (1st Year)

 
  • Next Months HOA Fee(s)

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