Who Pays For What?

January 19, 2024

Who Pays For What?

 

WHO PAYS FOR WHAT?

SALE PRICE

TYPICAL COST

WHO PAYS?

Commission

6% of purchase price

Seller

Appraisal

$ 250-$ 500

Buyer

Credit report

$ 30-$ 75 per borrower

Buyer

Inspection fee

$ 350+/Visit

Buyer

Lender-direct underwriting fee

$ 750-$ 1,000

Buyer

Processing fee

$ 150

Buyer

Flood certificate

$ 50-$ 100

Buyer

Tax service

$ 85-$ 200 

Buyer

Attorney fee

$ 600-$ 1,000+

Both

Settlement closing

$ 250-$ 1,000

Buyer

Title insurance (buyer)

$ 250-$ 1,000

Buyer

Title insurance (seller)

$ 300-$ 2,000

Seller

Recording fee

$ 75-$ 250

Buyer

State transfer tax

$ 1.50 per $ 1,000

Seller

County/city transfer tax

$  3.00 per $ 1,000

Seller

Survey

$ 500-$ 1,000

Seller

Interest per day

Loan amount X Rate / 365

Buyer

Escrow taxes

1-5 months (if applicable)

Buyer

Escrow insurance

1-5 months (if applicable)

Buyer

Tax proration

105-110% of last tax bill

Seller

Property transfer taxes vary per local jurisdiction or township. Please consult your real estate attorney to obtain the best possible estimate for taxes and other closing costs. 

If you have any questions or want to sell your property, contact me at (609) 948-4306. I look forward to hearing from you.


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