Who Pays What at the Closing Table?

WHO PAYS WHAT?
A GUIDE TO CLOSING COSTS

SELLER
ITEMS FOR WHICH THE SELLER CAN GENERALLY BE EXPECTED TO PAY:

• Brokerage/Real Estate Commission
• Tax Certificate
• Escrow Fee
• Document Preparation for Deed
• Payoff of All Loans in Seller’s Name
• Interest Accrued to Lender Being Paid Off, Statement Fees, and Any Prepayment Penalties
• Owner Title Insurance
• Termite Work (According to Contract)
• Judgments, Tax Liens, etc. Against the Seller
• Tax Pro-Rations (for Time Owned During Tax Year)
• Homeowner’s Dues
• Delinquent Taxes
• Notary Fees
• Home Warranty (Additional Fees Agreed to Per Contract)
• Seller Credit for Closing Costs (According to Contract Terms)

BUYER
ITEMS FOR WHICH THE BUYER CAN GENERALLY BE EXPECTED TO PAY:

• Lender’s Title Insurance Premium
• Escrow Fee
• Document Preparation (if Applicable)
• Notary Fees
• Recording Charges to All Documents in the Buyer’s Name
• Homeowner’s Association Dues (for Prorated Portion of the Year)
• Homeowner’s Transfer Fee
• All New Loan Charges (Except Those Required by Lender for Seller to Pay), including:

1. Appraisal
2. Credit Report
3. Tax Service Fee
4. Loan Origination/Discount Fee
5. Reserves for Taxes and Insurance
6. Flood Certification
7. Mortgage Insurance Premium

• Interest on New Loan (from the date of funding to 30 days prior to the first payment date)
• Prorated Share of Taxes (from the date of acquisition)
• Inspection Fees (Property Inspection, Pool, WDI (Wood Destroying Insects), Structural, Geological)
• Homeowner’s Insurance Premium for First Year

Courtesy of Frontier Title and Old Republic Title