Expected Costs When Selling
BRANDEN GRIFFITH
June 12, 2024
THE BUYER PAYS:
- Down payment on the home
- Buyer’s escrow fee (according to the contract)
- Lender’s extended title insurance premium (ALTA)
- Document preparation (if applicable)
- Prorated property taxes (from date of acquisition)
- Prorated homeowner’s association dues (from date of acquisition)
- Recording fees for all documents in buyer’s name
- Notary fees, if applicable
- Homeowners’ hazard insurance premium for first year
- Inspection fees (according to contract)
- Loan fees as agreed with lender
- Interim interest on new loan, prorated from date
- Real Estate Agent Fee (if agreed contract amount is less than amount agreed to be paid by the seller).
THE SELLER PAYS:
- Seller’s escrow fee
- Work orders, if required by lender, or agreed between parties (according to contract)
- Owner’s title insurance premium
- Real estate service fees (according to contract)
- Payoff of all encumbrances (loans) in seller’s name
- Prorated property taxes (prior to date of sale)
- Interest accrued by lender that is being paid
- Prepayment penalties
- Any judgments, tax liens, assessments or encumbrances placed against property title
- Any unpaid homeowner’s association dues
- Loan fees that are required by the lender, based on loan types such as FHA or VA (according to contract)
- Recording charges to clear all documents of record against the seller
- Excise tax, if applicable, determined by county and based on sale price
THE SELLER RECEIVES:
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