This
list includes many typical closing costs and is intended to be
viewed as sample information only. Some states and counties
implement and divide costs differently among buyers and sellers.
Most of the typical closing costs are listed below, however, other
costs not listed here may apply to your particular situation.
Sample
Closing Costs
In
addition to the following charges, there are several miscellaneous
charges you may find on your closing statement. You need to
inspect these charges carefully and make sure the services were
provided before you pay for it.
- COMMISSION
The seller will have to pay commission fees to the real estate
agents representing both the buyer and seller.
- PROPERTY TAXES
The seller is responsible for the payment of property taxes
until the last day of ownership.
- HOMEOWNER'S INSURANCE
The buyer is responsible for purchasing a homeowner's policy
prior to the close of escrow.
- ASSESSMENT AND LIENS
Any assessments or liens on the property need to be paid
and/or resolved before the close of escrow. Examples include
tax liens or judgments, etc. This is the seller's
responsibility.
- TITLE INSURANCE
The financial responsibility for title insurance varies from
county to county. In some areas the buyer is responsible and
some areas the seller is responsible. Also, the buyer and
seller may agree to a 50/50 split. Check with your real estate
professional.
- ESCROW SERVICES
Like title insurance, the financial responsibility for escrow
services varies from area to area. Check with your real estate
professional.
Responsibility for the following fees may be negotiable when you
open escrow. Once again, these costs may or may not apply to your
specific situation. Be sure to consult your real estate
professional for details.
- PROPERTY INSPECTION FEES
- TERMITE INSPECTION
- TERMITE REMOVAL COSTS
- DOCUMENT PREPARATION FEES
- DEED RECORDING CHARGES
- LOAN ASSUMPTION FEES
- HOME WARRANTY
- UTILITY ADJUSTMENTS
|
