| In general, the Buyer usually pays for the following (as applicable):
- Escrow fee
- Title insurance
- Document preparation fee
- Loan origination fee
- Loan discount fee
- Interest on new loan from date of funding to first
payment date
- Loan processing fee
- Credit report
- Appraisal fee
- Mortgage insurance
- Hazard insurance reserve
- Mortgage insurance reserve
- County tax reserve
- Recording fees for loan documents
- Notary fees
- Pest and contractor’s inspection fees
- Hazard insurance premium
- Prorated county property taxes
- Home Warranty Plan (optional)
|
In general, the seller pays for the following
(as applicable):
- Real estate commission
- County documentary transfer tax
- Document preparation fee
- Payoff of existing Seller’s loans:
- Interest accrued to lender being paid off
- Payoff demand statement fee
- Reconveyance fee
- Prepayment penalties, if any
- Any corrective work agreed to by Seller
- Local ordinance compliance (energy, smoke)
- 3-R and mandatory disclosures
- Loan fees as required by buyer’s lender
- Judgments, tax liens, etc., owed by Seller
- Recording fees to clear documents of record
- Notary fees for Seller’s recorded documents
- Any unpaid bonds, assessments
- Any unpaid homeowner’s dues
- Prorated country property taxes
- Home warranty plan (optional)
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