BUYERS Items differ depending on State!

The buyers can generally be expected to pay for the following:

1. Assumption/change of records fees for takeover of existing loan,

2. All new loan charges (except those required by tender for seller to pay),

3. Beneficiary statement fees for assumption of existing loan,

4. City transfer/conveyance tax (according to contract),

5. Disclosure fees (geological reports),

6. Document preparation (if applicable),

7. Escrow fees (depending on State)

8. Fire Insurance premium for the first year,

9. Homeowners transfer fees,

9. Home Warranty (according to contract),

10. Inspection fees,

11. Interest on new loan for 30 days prior to the first payment date,

12. Notary fees,

13. Real Estate Commission (according to contract),

14. Recording charges for all documents in buyers names,

15. Tax proation (from date of acquisition),

16. Termite Inspection (according to contract),

17. Title Insurance premium for lender's policy,

18. Transaction fees (according to contract).

SELLERS Items differ depending on State!

The sellers can generally be expected to pay for the following:

1. Any bonds or assessments (according to contract),

2. Any city transfer/conveyance tax (according to contract),

3. Any pending or delinquent taxes (if any),

4. Any judgments, tax liens, etc., against the seller or property,

5. Any unpaid homeowners dues,

6. Document preparation fee for the deed,

7. Documentary transfer tax ($1.10 per $1,000.00 of the sales price),

8. Escrow fees (depending on the State),

9. Home Warranty (according to contract),

10. Interest accrued to lender being paid off, statement and reconveyance fees and any prepayment penalties),

11. Notary fees,

12. Payoff of all loans in seller's name (or existing loan balance, if being assumed by the buyer),

13. Real Estate Commission (according to contract),

14. Recording charges to clear after documents of record against seller,

15. Tax proration (for any taxes unpaid at time of transfer of title),

16. Termite Inspection (according to contract),

17. Title Insurance premium for owner's policy,

18. Transaction fees (according to contract).

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