Who pays for what Fees in Escrow

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 & Usually Section I (according to contract)
• Documentary Transfer Tax ($1.10 per $1,000.00 of sales price)
• 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 )