Who Pays What

A Guide to Closing Cost

The Buyer Can Generally Be Expected to Pay For:

  • Loan policy and endorsements
  • Record warranty deed
  • Record deed of trust
  • Courier fee
  • Escrow fee
  • Tax ServiceFee (lender charge)
  • Full – year homeowner’s insurance policy (lender charge)
  • 2-3 months hazard insurance escrow (lender charge)
  • Tax Reserve (lender charge)
  • Loan application and/or discount fee (lender charge)
  • Appraisal (lender charge)
  • Credit report (lender charge)
  • Lender document preparation (lender charge)
  • Flood certification (lender charge)
  • Mortgage insurance premium – MIP or PMI (lender charge)
  • Miscellaneous loan fees (lender charge)
  • Survey
  • Homeowner’s association dues and fees
  • Guaranty Fee
  • Any other costs as outlined in real estate contract
  • Inspection fees

What the Seller Can Generally be Expected to Pay for:

  • Loan payoff (per existing lender’s payoff letter)
  • Owner’s Title Policy premium
  • Record release of existing lien(s)
  • Current year real estate tax pro-ration (per contract)
  • Prior year’s property taxes still due (if due)
  • Homeowner’s association dues an fee (if applicable)
  • Escrow fee
  • Commissions (per listing agreement)
  • Any other cost as outlined in real estate contract
  • Tax certificate
  • Attorney Documents Prep Fee and Deed and Release
  • Homeowner’s Transfer Fee (if applicable)
  • Guaranty Fee
    Any other costs as outlined in real estate contract

Negotiated Under Contract

  • Inspections
  • Termite Work
  • Home Warranty