A Guide to Closing Costs: Who pays what?
Closing Costs are expenses on top of your purchase price. Costs incurred include Loan Fees Escrow Fees, Title Fees , Deed Recording and etc. .
It’s always a good idea to factor in the closing costs so you can properly plan and manage your finances. In general, you can expect to pay 2-4% of the purchase price in closing costs, not including the down payment
These are typical standard fees in the Southern California Region
| SELLER COST | BUYER COST |
| Standard owner Title Insurance | Title Insurance premiums |
| Real Estate Commission | Escrow loan tie in Fee |
| Escrow Fee 50/50 | Escrow fee 50/50 |
| Notary Fees | Notary Fee |
| Demand Fees | Document prep Fees |
| Document Prep Fee | Recording charge for docs in Buyers Name |
| Document Transfer Taxes | Termite Inspection (to contract) |
| Any City/County transfer Taxes | Tax Proration’s |
| Any bond or assessments (to contract) | All new Loan Charges |
| Any all delinquent taxes | Inspection Fees |
| Any unpaid HOA Dues | Home Warranty (to contract) |
| Payoff of all loans in Sellers name | Appraisal Fee |
| Interest accrued to lender being paid off | Fire Insurance for the first year |
| Termite Inspection (to contract) | Buyers sub-escrow Fee |
| Termite work (to contract) | |
| Home Warranty (to contract) | |
| Any judgments or tax liens against Seller | |
| Recording charges | |
| Tax Proration’s | |
| Sellers sub-escrow Fee | |
| Homeowners transfer Fee | |
| HOA Doc prep Fee |
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