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Simple tips to making your house your home comfortably

For most people making your house your home is a non topic but there are many “little things” that can be done to enhance your space...

on Jan 18, 2017

Lawn Maintenance: Is Your Lawn Revealing About you?

Taking good care of your lawn is necessary for ensuring that it becomes healthy and resistant to disease, pests, weeds and weather conditions. Lawn...

on Jan 18, 2017

How To Choose The Right Water System For Your Home

Choosing the right water system for the home requires some careful thought. There are several different types of hot water systems to choose from,...

on Jan 12, 2017

Working with a Builder you can Trust

Buying a new build can be quite an investment. It's imperative to choose the right builder from the start by finding a reputable, trustworthy...

on Jan 12, 2017

Double Glazed Windows Cost | Is It Worth It?

A century ago, windows were a single pane of glass that struggled to block drafts and heat transfer. Then architects in the 1920s and ‘30s...

on Jan 10, 2017

Who Pays for What in Real Estate?

by Guest on May 15, 2012

One very common question of real estate transactions is, "Who pays for what on a real estate transaction". Below is a list to give you an idea of some of the common expectations, but this list will vary from region to region. Also, if it's a buyer's or seller's market could possibly change the common fee responsibility.

Seller or Buyer

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)
  • Any loan fees required by buyer's lender
  • Payoff of all loans in seller's name (or existing loan balance if being assumed by buyer)
  • Interest accrued to lender being paid off, Statement Fees, reconveyance Fees and any Prepayment Penalties
  • Termite Inspection (according to contract)
  • Termite Work (according to contract)
  • Home Warranty (according to contract)
  • 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
  • Title Insurance Premium
  • Recording charges to clear all documents of record against seller
  • Any bonds or assessments (according to contract)
  • 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
  • Termite Inspection (according to contract)
  • Tax proration (from date of acquisition)
  • Homeowner's transfer fee
  • All new loan charges (except those require by the lender for seller to pay)
  • 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 loanBeneficiary Statement Fee for assumption of existing loan
  • Inspection Fees (roofing, property inspection, geological, etc.)
  • Home warranty (according to contract)
  • City transfer/Conveyance Tax (according to contract) Fire insurance Premium for first year

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