Customary SELLER Escrow Costs
Here you will find the traditional distribution of expenses associated with a purchase of real estate. However, many of these items can be negotiated by both parties at the time of the offer, excluding some expenses required by the lender to be paid specifically by the seller.
Seller Typically Pays For:
- Real estate commision
- Seller related escrow fees
- County documentary transfer tax (55 cents per $500 of consideration, exclusive of the value of any lien or encumbrances attaching to the property at the time of sale)
- Applicable city transfer/conveyance tax (according to contract)
- Document preparation fee for deed
- Any loan fees (if required by buyer’s lender)
- Payoff of all loans in sellers name (or existing loan balance if being assumed by buyer)
- Interest accured to lender being paid off
- Statement fees, reconveyance fees and any prepayment penalties
- Termite inspection (according to contract)
- Termite work (according to contract)
- One Year Home Warranty (according to contract)
- Any judgements, tax liens, etc., agaisnt the seller
- Property Tax proration (for any taxes unpaid at time of transfer of title)
- Any unpaid homeowner’s association 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