 |
 |
 |
 |
-- Contractors Click Here |
| |
|
|
Who Pays for What?
One very common question of real estate transactions is, "Who pays for what on a real estate transaction". Below is a list to give you an idea of some of the common expectations, but this list will vary from region to region. Also, if it's a buyer's or seller's market could possibly change the common fee responsibility.
The SELLER could generally be expected to pay for the following.
- Real Estate Commission
- Document preparation fee for Deed
- Documentary transfer tax
- Any city Transfer/Conveyance Tax (according to contract)
- Any loan fees required by buyer's lender
- Payoff of all loans in seller's name (or existing loan balance if being assumed by buyer)
- Interest accrued to lender being paid off, Statement Fees, reconveyance Fees and any Prepayment Penalties
- Termite Inspection (according to contract)
- Termite Work (according to contract)
- Home Warranty (according to contract)
- Any judgments, tax liens, etc., against the seller
- Tax proration (for any taxes unpaid at time of transfer of title)
- Any unpaid Homeowner's dues
- Title Insurance Premium
- Recording charges to clear all documents of record against seller
- Any bonds or assessments (according to contract)
- Any and all delinquent taxes
- Notary Fees
- Escrow Fee
The BUYER could generally be expected to pay for the following.
| |
| |
| Home Page
| Terms | Add
a Link | Contact Us | Search
Site |
| Find a Contractor | Contractor Sign Up | Sumbmit Articles |
| Find a Contractor | Contractor Sign Up | Sumbmit Articles |