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The Seller can normally be expected to pay for the following:

  • Real estate commission
  • Owner’s title insurance premiums
  • ½ of the Escrow fee
  • Payoff of all loans in Sellerʹs name including the interest accrued to lender being paid off, Statement Fees, re‐conveyance Fees and prepayment penalties
  •  Any loan fees required by Buyerʹs lender per the contract
  • Home warranty according to the contract
  • Any judgments, tax liens, etc. against the Seller
  • Recording fees to clear all documents of record against the Seller
  • Tax pro‐ration ‐ this is for any unpaid taxes at the time of transfer of title until the deed is recorded in your name
  • Any unpaid Homeowners Association dues
  • Any bonds or assessments according to the contract
  • AA home changes everythingny and all delinquent taxes per the contract
  • Pest work if needed and possible pest inspection

The Buyer can normally be expected to pay for:

  •  Lender’s Title policy premium
  •  ½ the escrow fee
  •  Document preparation
  •  Notary fees
  •  Recording charges for all documents in Buyer’s names
  •  Homeowner’s transfer charges
  •  All new loan charges (except those required by the lender for the Seller to pay)
  •  Interest on a new loan from date of funding to 30 days prior to first payment date
  •  Assumption/Change of records fees for takeover of existing loan
  •  Home Warranty (according to contract)
  •  Fire Insurance Premium for the first year

There are some mandatory costs: 

  • FHA requires buyer pay for reserves (impounds) for property taxes and hazard insurance, plus adjusted interest.
  • Both FHA and VA require that the seller must pay for assignment, flood certification, recording to clear title, document preparation, photo inspection, tax service and warehousing.

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