Closing Costs are shared between buyer and seller. Here is a detail of typical costs associated with buying and selling.
Seller
The seller is generally expected to pay for the following:
- Real estate commissions
- Document preparation fee for deed
- Documentary transfer tax
- Any city transfer/conveyance tax
- Title insurance premium
- Escrow fee
- Payoff of all loans in seller’s name
- Interest accrued to lender being paid off, statement fees, reconveyance fees, and any prepayment penalties
- Any judgements, tax liens, etc. against the seller
- Tax proration
- Any unpaid homeowner’s dues (for HOA or Condos)
- Recording changes to clear all documents of record against seller
- Any and all delinquent taxes
Buyer
The buyer is generally expected to pay for the following:
- Loan origination fee
- Other lender fees (credit, appraisal)
- Title insurance premium
- Escrow fee
- Document preparation (if applicable)
- Recording charges for all documents in buyer’s name
- Tax proration (from date of acquisition)
- Homeowner’s dues (for HOA or Condos)
- Interest on new loan from date of funding to 30 days prior to first payment date
- Assumption/change of records fees for takeover of existing loan
- Beneficiary statement fee for assumption of existing loan
After more than twenty years on the air, Ron & Don have moved their massive audience to www.ronanddonradio.com. As licensed Real Estate brokers with Windermere Midtown, Ron & Don use their passion, expertise, and unprecedented reach to help buyers, sellers, or investors.
Ron Upshaw is a Licensed Agent at
Windermere Real Estate Midtown
1920 North 34th Street
Seattle, WA 98103
Ron Upshaw
Ron has been a part of just about every kind of real estate transaction you can think of. He understands that finding the perfect place for you and your family is crucial. Schedule Your Sit Don with Ron today!