Who Pays For What?
Sellers
- Real estate commission
- Document preparation fee for
- Documentary transfer tax
- City transfer/conveyance tax
- Payoff of all loans
- Interest accrued to lender being paid off, statement fees, re-conveyance fees and any prepayment penalties
- Termite work (according to contract)
- Home warranty (according to contract)
- Any judgments, tax liens, etc., against the seller
- Recording charges to clear all documents of record against seller
- Tax pro-ration (for any taxes unpaid at time of transfer of title)
- Any unpaid Homeowner’s dues
- Any and all delinquent taxes
- Notary fees
- Any bonds or assessments (according to contract)
- Energy/Water Conservation Compliance
Buyers
- Title insurance premiums
- Escrow fee
- Documentation preparation (if applicable)
- Recording charges for all documents in buyer’s names
- Tax pro-ration (from date of acquisition)
- Termite inspection (according to contract)
- Homeowner’s transfer fee (according to contract)
- All new loan charges
- Home warranty (according to contract)