Realtor, Real Estate, Sacramento, East Sacramento, Land Park, Curtis Park, Tahoe Park, Hollywood Park, Greenhaven, River Park, Midtown, South Land Park

WHO PAYS FOR WHAT?

Everything is real estate is negotiable. The more knowledgeable and skilled your realtor is the better your needs and wants will be represented and negotiated. That being said, listed below are the typical ways in which costs associated with a real estate transaction are split and paid.

WHO PAYS WHAT?

WHAT COSTS DOES THE SELLER PAY?

Closing costs are paid by both the buyer and the seller in the transaction. Most of these fees will be negotiated in the real estate contract. In California, many of the cities and counties it is usual and customary for the buyers and sellers to split fees where in others fees are paid by the buyer or seller. Each county is different, for instance in some counties, it is the seller who pays the cost of the owner's title insurance premium,while the buyer pays the lender's title insurance premium. In other counties, that is reversed or costs are shared equally.

Here are some of the costs a seller may pay:

Owner’s title insurance premiums

Real estate commission

Escrow fee

Document preparation fee for Deed

Documentary transfer tax

50% of city transfer/conveyance tax (according to contract)

Payoff of all loans in seller’s name (or existing loan balance if being assumed by buyer)

Termite inspection section 1 (according to contract)

Roof Certification (if agreed to in the contract)

Home warranty (according to contract)

Any judgments, tax liens, etc. against seller

Recording charges to clear all documents of record against seller

Tax pro-ration (for any unpaid taxes at time of transfer of title)

Any unpaid homeowner’s dues

Any bonds or assessments (according to contract)

Any and all delinquent taxes

Courier, special overnight or other delivery fee

WHAT COSTS DOES THE BUYER PAY?

In many case the buyer splits fees with the seller. The allocation of fees will be outline in the purchase agreement contract.

Here are some of the costs which may be the responsibility of the buyer:

Lenders title policy premiums

50% of city transfer/conveyance tax (according to contract)

Document preparation (if applicable)

Notary fees

Courier, special overnight, or other delivery fees

Recording charges for all documents in buyers’ names

Termite inspection (according to contract)

Tax pro-ration (from date of purchase)

Homeowner’s transfer fee

All new loan charges (except those required by lender for seller to pay)

Interest on new loan from the 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 (roofing, pool, property inspection, sewer, geological, etc.)

Homeowners insurance premium for first year

Flood Insurance (if required)

If you have questions about what fees you can expect to pay during your escrow,
please feel free to email me at dawn@dawnrowe.com or call me at 916-799-4835.

Dawn Rowe, dawnrowe.com, Downtown Sacramento, East Sacramento, Land Park, Curtis Park, Tahoe Park, Greenhaven, Hollywood Park, River Park, South Land Park, Midtown, Oak Park, South Land Park, Sacramento MLS.

Dawn O'Connor Rowe

916.799.4835

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