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January 19, 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 for:

• 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 for:

• 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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