Who Pays for What?

The Seller customarily pays for:

• Real Estate Commission
• Document preparation fee for Deed
• Documentary transfer tax ($1.00 per $1,000.00 of sales price) (may be negotiated in the contract)
• Payoff of all loans in seller’s name with interest through the date of payment
• Termite inspection
• Termite work
• Home Warranty
• Any judgments, tax liens, etc., against the seller
• Tax proration (through date of closing)
• Any unpaid Homeowner’s dues
• Proration of current HOA dues through date of closing
• Recording charges to clear all liens of record against seller
• Any bonds or assessments
• Any and all delinquent taxes

The Buyer customarily pays for:

• Title insurance premium (lender and owners)
• Document preparation (except Warranty Deed) (if applicable)
• All new loan charges
• Mortgage recording taxes (if applicable)
• Tax prorations (from date of closing)
• Interest on new loan from date of funding to date of the first payment date
• Inspection Fees (roofing, property inspection, geological, etc.)
• Fire Insurance Premium for first year
• HOA transfer and new owner fees