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CLOSING COSTS: WHO PAYS ON PURCHASES? |
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depending upon the circumstances of each individual transaction. |
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To get an estimate of closing charges for buyers and/or Sellers please
visit : |
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http://www.texasfivestarrealty.com/Estimate_Closing_Cost.asp |
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TYPE OF THE LOAN |
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Table is a representation of who customarily pays each cost |
CASH |
FHA |
VA |
CONVENTION |
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1. Down payment |
BUYER |
BUYER |
BUYER |
BUYER |
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2, Termite (wood
Infestation) Inspection |
BUYER |
BUYER |
SELLER |
BUYER |
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3 Properly inspection |
BUYER |
BUYER |
BUYER |
BUYER |
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4 Property Repairs, if any (negotiable) |
SELLER |
SELLER |
SELLER |
SELLER |
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5 New Loan Origination Fee (negotiable) |
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BUYER |
BUYER |
BUYER |
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6 Document Preparation Fee • Loan Package |
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BUYER |
BUYER |
BUYER |
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7 Document Preparation Fee - Warranty Deed |
SELLER |
SELLER |
SELLER |
SELLER |
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8 Credit Report |
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BUYER |
BUYER |
BUYER |
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9 Appraisal or Extension Fee (negotiable) |
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BUYER |
BUYER |
BUYER |
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10. Existing Loan Payoff |
SELLER |
SELLER |
SELLER |
SELLER |
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11, Existing Loan Payoff Demand |
SELLER |
SELLER |
SELLER |
SELLER |
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12 Prepaid Interest (approximately 30 days) |
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BUYER |
BUYER |
BUYER |
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13 FHA MIP, VA Funding Fee, PMI Premium |
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BUYER |
BUYER |
BUYER |
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14. Property Taxes |
PRORATE |
PRORATE |
PRORATE |
PRORATE |
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15. Tax Impounds |
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BUYER |
BUYER |
BUYER |
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16. Tax Service Contract |
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BUYER |
SELLER |
BUYER |
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17. Fire/Hazard insurance |
BUYER |
BUYER |
BUYER |
BUYER |
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18. Flood Insurance |
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BUYER |
BUYER |
BUYER |
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19. Homeowners Association (HOA) Transfer Fee (negotiable) |
BUYER |
BUYER |
BUYER |
BUYER |
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20 HOA Statement of Accounts |
SELLER |
SELLER |
SELLER |
SELLER |
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21 Delinquent HOA Assessments |
SELLER |
SELLER |
SELLER |
SELLER |
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22 Delinquent Property Taxes |
SELLER |
SELLER |
SELLER |
SELLER |
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23, Home Warranty Premium (negotiable) |
SELLER |
SELLER |
SELLER |
SELLER |
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24, REALTORS Commissions |
SELLER |
SELLER |
SELLER |
SELLER |
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25. Owners Title Policy (negotiable) |
SELLER |
SELLER |
SELLER |
SELLER |
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26, Lender's Title Policy and Endorsements |
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BUYER |
BUYER |
BUYER |
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27. Escrow Fee (NOTE Charge Seller on VA loan) |
SPLIT |
SPLIT |
SELLER |
SPLIT |
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28 Recording Fees (Flat Rate) |
SPLIT |
SPLIT |
SPLIT |
SPLIT |
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29 Courier/Express Mail Fee |
SPLIT |
SPLIT |
SELLER |
SPLIT |
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Note Prorated Items will appear
on Closing
Statement (HUD1) as
charges for one and credits for the
other |
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To get an estimate of closing charges for buyers and/or Sellers please
visit : |
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http://www.texasfivestarrealty.com/Estimate_Closing_Cost.asp |
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