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Sales Strategy: Page 21

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Costs: Who Pays For What

ITEMS THE SELLER CAN GENERALLY BE EXPECTED TO PAY FOR

  • Real Estate commission
  • Escrow Fees
  • County documentary transfer tax (55¢ per $500 of consideration exclusive of the value of any lien or encumbrances attaching to the property at time of sale)
  • Applicable city transfer/conveyance tax according to contract
  • Document preparation fee for deed
  • 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 pro-ration (for any taxes unpaid at time of transfer of title)
  • Any unpaid homeowner’s dues
  • 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
  • Title insurance premium: Owner’s policy

ITEMS THE BUYER CAN GENERALLY BE EXPECTED TO PAY FOR

  • Escrow fees
  • Document preparation (if applicable)
  • Notary fees
  • Recording charges for all documents in buyer’s name
  • Termite inspection (according to contract)
  • Tax pro-ration (from date of acquisition)
  • Homeowner’s transfer fee
  • All new loan charges (except those required by 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 take-over of existing loan
  • Beneficiary Statement fee for assumption of existing loan
  • Inspection fees (roofing, property inspection, geological, etc.)
  • Home Warranty (according to contract)
  • Lender’s title policy
  • Fire insurance premium for first year