Here's a guide to closing costs. In other words, who pays what? This list is a general guideline of charges and may not be wholly inclusive for your transaction.
The Seller customarily pays:
Real Estate Commissions
Document Preparation for Deed
Documentary Transfer Tax (amount is dependent upon sales price)
Payoff of all Loans against the Property
Interest Accrued on Loans Being Paid Off, Reconveyance Fees and Pre-Payment Penalties
Home Warranty (if specified in contract)
Any Judgment or Tax Liens Against the Seller
Property Tax Proration
Unpaid Homeowners’s Dues (for condominiums)
Bonds or Assessments
Delinquent Taxes
Move-out Fees (for Condominiums)
Notary Fees and Recordation Fees
Third party Natural Hazard Disclosure Statement and California Tax Disclosure Report
Pre-sale Pest Inspection Fee
Underground Storage Tank Report
Miscellaneous Changes
The Buyer customarily pays:
Title Insurance Premium for Lender and Buyer
Escrow Fee
Notary Fees
Contractor’s and Pest Inspection Fees
All new Loan Changes (points, appraisal, document processing fees, etc.)
Interest on New Loan From Date of Funding to 30 Days Prior to the 1st Payment Date
Beneficiary Fee from Assumptions of Existing Loan
Home Warranty (if specified in contract)
Homeowner’s Insurance for 1st Year
Earthquake Insurance (optional)
Private Mortgage Insurance (typically 2 months) if Required by Lender
Private Mortgage Insurance Impound Account (1 year) if Required by Lender
Property Tax Impound Account if Required by Lender
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