Closing Costs - Who Pays What? **
Paid by BOTH or EITHER party
• Attorney Fees, Courier/Delivery Fees, Document Preparation
• Escrow fee, often spilt between Buyer & Seller
• HOA Dues & Transfer Fees
• Notary Fees to witness documentation
• Recording Fees to file legal documents with County Recorder
• Property Taxes
• Owner’s Title Insurance Premium
• Lender’s Title Insurance Premium
Buyer’s Typical Costs
• Appraisal, one time fee for new loan
• Credit Report, for loan application
• Homeowners Insurance
• Loan Fees, origination & processing fees (lender)
• PMI, some lenders require Private Mortgage Insurance
• Prepaid Interest, prorated depending on time of the month the loan closes
Seller’s Typical Costs
• Real Estate Commission
• Disclosure Reports
• Home Warranty, Existing Encumbrances
• Property Inspections, Pest Inspections
• Transfer Tax, city/county conveyance tax
VA Loan Typical Costs
• Lender’s Appraisals
• Lender’s Inspections
• Loan Closing or Settlement Fees
• Document Preparation Fees
• Preparing Loan Papers or Conveyance Fees
• Interest Rate Lock In Fees
• Owner’s Title Insurance Premium