Who Pays for What?

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)
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
Termite Work
Home Warranty

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