The Sale Process

The Seller can generally be expected to pay for:
  • Real estate commission
  • Document preparation fee for deed
  • Documentary transfer tax
  • City transfer/conveyance tax (according to contract)
  • 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 judgements, tax liens, etc., against the seller
  • Recording charges to clear all documents of record against seller
  • Tax pro-ration (for any taxes unpaid at time of transfer of title)
  • Any unpaid Homeowner’s dues
  • Any and all delinquent taxes
  • Notary fees Any bonds or assessments (according to contract)
The Buyer can generally be expected to pay for:
  • Title insurance premiums Escrow fee
  • Documentation preparation (if applicable)
  • City transfer/conveyance tax (according to contract)
  • Recording charges for all documents in buyer’s names
  • Tax pro-ration (from date of acquisition)
  • Termite inspection (according to contract)
  • Homeowner’s transfer fee (according to contract)
  • All new loan charges
  • Home warranty (according to contract)
  • 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.)