Who Pays What

The SELLER can generally be expected to pay for:

bullet Real Estate commission
bullet Document preparation fee for Deed
bullet Documentary transfer tax 
bullet Any city Transfer/Conveyance Tax (according to contract)
bullet Payoff of all loans in seller’s name
bullet Interest accrued to lender being paid off,  Reconveyance Fees and any Prepayment Fees
bullet Termite Inspection (according to contract)
bullet Repairs resulting from inspections (according to contract)
bullet Home Warranty (according to contract)
bullet Any judgments, tax liens, etc., against seller
bullet Tax proration (for any taxes unpaid at time of transfer of title)
bullet Any unpaid Homeowners’ Dues
bullet Recording charges to clear after documents of record against seller
bullet Any bonds or assessments (according to contract)
bullet Any and all delinquent taxes
bullet Notary Fees 
bullet Escrow Fee (or one half – according to contract)
bullet Title Insurance Premium for Owner’s Policy

The BUYER can generally be expected to pay for:

bullet Title Insurance Premium for Lender’s Policy 
bullet Escrow Fee (or one half – according to contract)
bullet Document preparation (if applicable)
bullet Notary Fees
bullet Recording charges for all documents in buyers names
bullet Termite Inspection (according to contract)
bullet Tax proration (from date of acquisition)
bullet Homeowners’ transfer fee
bullet All new loan charges (except those required by lender for seller to pay)
bullet Interest on new loan from date of funding to 30 days prior to first payment date
bullet Pro- rated property taxes
bullet Inspection Fees (roofing, property inspection, geological, and in rural areas; septic tank and well inspections)
bullet Home Warranty (according to contract)
bullet City Transfer/Conveyance Tax (according to contract)
bullet Fire Insurance Premium for first year 
 

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