Who Pays For What
The Buyer customarily pays for:
Lender title policy premiums
Escrow Fee - 50%
Document Preparation (if applicable)
Recording charges for all documents in buyer's name
Tax proration (from date of acquisition)
All new loan charges
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 loans
Fire Insurance Premium for first year
Inspection Fees (roofing, property inspection, geological, etc.)
The Seller customarily pays for:
Owner's title insurance premiums
Escrow Fee 50%
Real Estate Commission
Documentary preparation fee for deed
Termite Inspection
Documentary Transfer Tax
Pay off all loans in seller's name
Interest accrued on existing loans
Statement Fees, Reconveyance Fees and any Prepayment Penalties
Any judgements, tax liens, etc. against the seller
Recording charges
Tax prorations (for any taxes unpaid at time of transfer of title)
Any unpaid Homeowner's dues
All delinquent taxes
Bonds or assessments (according to contract)
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