Who Pays For What?
January 19, 2024
January 19, 2024
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.
July 18, 2024
5 Signs You're Ready to Buy a Home
July 18, 2024
Free Money for Home Buyers
July 18, 2024
Change Your Social Media Settings
July 18, 2024
Hidden Costs of Home Buying
July 17, 2024
What Issues to Look for When Viewing Potential Homes
July 17, 2024
Pre-Foreclosure in Real Estate
Bringing together a team with the passion, dedication, and resources to help our clients reach their buying and selling goals. With you every step of the way.