Who Pays for What? A Buyers Guide to Closing Costs

Who Pays for What? A Buyers Guide to Closing Costs

All real estate transactions are unique and closing costs can vary dramatically based upon what the parties have agreed to. The following is an outline of a typical sales transaction and what closing costs you might expect to see. This is not a guarantee of what closing costs you may be charged at close of escrow and is to be used as a guide only:

The BUYER can generally be expected to pay for:

  • Title Insurance premiums(ALTA Loan Policy)
  • Escrow Fee(50%)
  • Document Preparation(if applicable)
  • Notary Fees
  • Messenger/overnight/courier fees(if used)
  • Tax proration on (for date of acquisition)
  • Homeowner Association Fees (according to contract)
  • All new loan Charges (except those required by Lender for Seller to pay)
  • Assumption/ Change of Record Fees for takeover of existing loan (according to contract)
  • Inspection Fees (roofing, property inspection, geological, etc.)
  • Fire insurance premium
  • Buyer’s portion of Sub-Escrow Fee
  • Escrow Loan Tie-in Fee

For more resources go to www.oakwoodescrowresources.com

For more on Oakwood Escrow go to www.oakwoodescrow.com

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Oakwood Escrow aims to make every transaction as simple, secure, and smooth as humanly possible. The easiest way to open an Escrow transaction with us is by using the form below, or contact us at (619) 430-4584.