Who Pays for What in the Purchase and Sale of a Home?

THE SELLER can generally be expected to pay for:

  • Real Estate commission
  • Document preparation fee for deed
  •  Document transfer tax
  • Any city transfer / conveyance tax
  • Payoff of all loans in seller’s name (or existing loan balance if being assumed by buyer)
  • Statement fees, reconveyance fees and any prepayment penalties
  •  Termite inspection
  • Termite work (Section 1)
  • Home warranty (according to contract)
  • Any judgements, tax liens, etc., against the seller
  • Tax proration (for any taxes unpaid at time of transfer of title)
  • Any unpaid Homeowners’ Association dues
  • Recording charges to clear all documents of record against seller
  • Any bonds or assessments (according to contract)
  • Any and all delinquent taxes
  • Notary fees - escrows fee
  • Title insurance premium - Owner’s Policy
  • Home warranty (according to contract)

THE BUYER can generally be expected to pay for:

  • Lender’s policy
  • Escrow fee
  • Document preparation (if applicable)
  • Notary fees
  • Recording changes for all documents in buyer’s name
  • Tax proration (from date of acquisition)
  • Homeowner’s transfer fee
  • All new loan charges (except those required by lender for seller to pay)
  • Interest on new loan from date of funding to 30 days prior to first payment date
  • Inspection fees (roofing, sewer, chimney, property inspection, geological, etc.)
  • Fire insurance premium for first year

Recommendations are made with the goal of capturing the largest return on investment.
Who Pays for What in the Purchase and Sale of a Home?

THE SELLER can generally be expected to pay for:

  • Real Estate commission
  • Document preparation fee for deed
  •  Document transfer tax
  • Any city transfer / conveyance tax
  • Payoff of all loans in seller’s name (or existing loan balance if being assumed by buyer)
  • Statement fees, reconveyance fees and any prepayment penalties
  •  Termite inspection
  • Termite work (Section 1)
  • Home warranty (according to contract)
  • Any judgements, tax liens, etc., against the seller
  • Tax proration (for any taxes unpaid at time of transfer of title)
  • Any unpaid Homeowners’ Association dues
  • Recording charges to clear all documents of record against seller
  • Any bonds or assessments (according to contract)
  • Any and all delinquent taxes
  • Notary fees - escrows fee
  • Title insurance premium - Owner’s Policy
  • Home warranty (according to contract)

THE BUYER can generally be expected to pay for:

  • Lender’s policy
  • Escrow fee
  • Document preparation (if applicable)
  • Notary fees
  • Recording changes for all documents in buyer’s name
  • Tax proration (from date of acquisition)
  • Homeowner’s transfer fee
  • All new loan charges (except those required by lender for seller to pay)
  • Interest on new loan from date of funding to 30 days prior to first payment date
  • Inspection fees (roofing, sewer, chimney, property inspection, geological, etc.)
  • Fire insurance premium for first year

Recommendations are made with the goal of capturing the largest return on investment.