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A Guide To Closing Cost
The Buyer Can Generally Be Expected To Pay For:
- Loan policy and endorsements
- Record warranty deed
- Record the deed of trust
- Courier fee
- Escrow fee
- Tax service fee (lender charge)
- Full-year homeowner’s insurance policy (lender charge)
- 2-3 months of 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 the 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 and fee (if applicable)
- Escrow fee
- Commissions (per listing agreement)
- Any other cost as outlined in the 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 the real estate contract
Negotiated Under Contract
- Inspections
- Termite Work
- Home Warranty