WHO PAYS FOR WHAT

One very common question of a real estate transaction is, "Who pays for what?". Below is a list to give you
an idea of some of the common expectations, but this list can vary slightly with each transaction.

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)
• Payoff of all loans in seller's name
• Interest accrued to lender being paid off, Statement Fees, reconveyance Fees and any Prepayment Penalties
• 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 (For Condominiums)
• Title Insurance Premium
• Recording charges to clear all documents of record against seller
• Any and all delinquent taxes
• Notary Fees
• Escrow Fee

The BUYER could generally be expected to pay for the following.

• Title Insurance Premium
• Escrow Fee
• Notary Fee
• Document preparation (if applicable)
• Recording charges for all documents in buyer's name
• Tax Proration (from date of acquisition)
• Homeowner's Dues (for condos)
• Loan Origination Fee
• Interest on new loan from date of funding to 30 days prior to first payment date
• Assumption/Change of Records fees for takeover of existing loan
• Beneficiary Statement Fee for assumption of existing loan
• Inspection Fees
• City transfer/Conveyance Tax (according to contract)
• Fire insurance Premium for first year