411 Home Repair


Latest Articles

5 Easiest DIY Projects For Beginners

The easiest way to cut costs while repairing your house is to do it yourself. But repair work is easier said than done. For most people breaking...

on Oct 25, 2016

The 4 Way Test: How To Choose The Best Bed Mattress For Your Child

There will come a time when your precious bundle of joy becomes too big to sleep in a crib. This is the right time for you to buy your...

on Oct 23, 2016

The Best Way to Clean Your Kitchen Cabinets

Your kitchen is prone to messes more so than any other room in your home. When you consider all of the cooking, eating, socializing, and even the...

on Oct 21, 2016

How to Turn Your Garage into a Home Gym

Getting a gym membership can be a great way to get in shape, but for those who are pressed for time, or lack local facilities, setting up your own...

on Oct 20, 2016

Should You Cut Back On High Speed Internet?

If you’re thinking of cutting back on your expenses, you might think it’s a good idea to cut back on high speed Internet. After all, you reason,...

on Oct 19, 2016

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

Sponsored Articles

Random Articles

Tips on Finding Cheap Area Rugs

Rugs a good way of making a home to feel warm and more inviting. Unfortunately if you happen to have a large house with many rooms, you might find...

Bedroom / Furnishings

Home Decorating Tips: How to Style Bookshelves Like a Pro

If there’s one piece of furniture with endless style potential, it’s bookshelves. These spaces are often used for function only, but you can style...

Interior Design / Decor

How to Enhance the Beauty of your Home with Blinds

Remodeling your home does not have to empty your wallet. There are several different things you can do to give your home an entirely new look and...

Windows / Siding

Sprucing up Your Living Room for the Heat of Summer

Winter has come and gone and we are now rapidly approaching the heights of summer. If you haven’t already, now is the time to finally getting...

General Household

Essential Tree Trimming Facts Every Tree Owner Should Know

Pruning a Tree is Essential for Safety, Structure and Its Beauty and HealthTree pruning is an important task and the most common tree maintenance...

Garden / Landscaping


Contact Us | Submit Article | RSS | 411homerepair © 2016