A guide to closing costs

The SELLER can generally be expected to pay for:
• Standard CLTA owner ’ s Title Insurance
• Real Estate Commission
• Document preparation fee for Deed
• Documentary transfer tax ($1.10 per $ 1,00.00 of sales price )
• Any City Transfer/Conveyance tax (according to contract )
• Any FHA or VA loan fees required by Buyer ’ s Lender
• Payoff of all loans in Seller ’ s name ( or existing loan balance if being
assumed by Buyer )
• Interest accrued to Lender being paid off, Statement Fees, Reconvey-
ance Fees and any Prepayment Penalties.
• Termite Inspection ( a ccording to contract)
• Termite Work ( according to contract )
• Home Warranty ( a ccording to contract )
• Any judgment, tax liens, etc. against the seller
• Recording charges to clear all documents of record against the Seller
• Tax proration ( for any taxes unpaid at time of transfer of title )
• Any unpaid Homeowner ’ s dues
• Any bonds or assessments ( according to contract )
• Any and all delinquent taxes
• Notary Fees
• Escrow Fee ( 50%)
• Seller ’ s portion of Sub-Escrow Fee
Demand Fees

The BUYER can generally be expected to pay for:
• Title insurance premiums (ALTA Loan Policy )
• Escrow Fee ( 50%)
• Document preparation ( if applicable )
• Notary Fees
• Recording changes for all documents in Buyer ’ s names
• Termite Inspection ( a ccording to contract)
• Tax proration on ( f or date of acquisition )
• Homeowner ’ s Transfer Fee
• All new loan charges ( except those required by Lender for Seller to
pay )
• Assumption/Change of Record Fees for takeover of existing loan.
• Recording charges to clear all documents of record against Buyer
• Beneficiary Statement Fee for assumption of existing loan
• Inspection Fees ( r oofing, property inspection, geological, etc. )
• Home Warranty ( a ccording to contract ) • City Transfer/
Conveyance Tax ( according to contract )
• Fire Insurance Premium for first year
• Buyer ’ s portion of Sub-Escrow Fee
• Escrow Loan Tie-In Fee