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Who
Pays For What In Escrow
This
is meant to be a general guideline for who can expect to pay
for certain costs during an escrow in the South Bay. All of
these items are negotiable and can be addressed during the
offer and counter offer process. For clarification or additonal
information contact us. Although this is the traditional distribution
of expenses associated with a sale, many items may be negotiated
between the parties at the time of the offer, notwithstanding
certain expenses required by the lender to be paid by seller.
Items
the Seller can generally be expected to pay for:
- Real
Estate commission
- Escrow
fees
- County
documentary transfer tax (55 cents per $500 of consideration,
exclusive of the value of any
lien or encumbrances attaching to the property at time of
sale)
- Applicable
city transfer/conveyance tax according to contract)
- Document
preparation fee for deed
- Any
loan fees required by buyer’s lender
- Payoff
of all loans in seller’s name (or existing loan balance
if being assumed by buyer)
- Interest
accrued to lender being paid off. Statement fees, reconveyance
fees and any prepayment
penalties
- Termite
inspection (according to contract)
- Termite
work (according to contract)
- Home
warranty (according to contract)
- Homeowners
transfer fee
- Homeowners
transfer tax
- City
transfer tax (generally split 50/50) if applicable
- Any
judgments, tax liens, etc., against the seller
- Tax
proration (for any taxes unpaid at time of transfer of title)
- Any
unpaid homeowner’s dues
- Recording
charges to clear all documents of record against seller
- Any
bonds or assessments (according to contract)
- Any
and all delinquent taxes
- Notary
fees – escrow fee
- Title
insurance premium: Owner’s policy
The
Buyer can generally be expected to pay for:
- Escrow
fees
- Document
preparation (if applicable)
- Notary
fees
- Recording
charges for all documents in buyer’s name
- Tax
proration (from date of acquisition)er fee
- All
new loan charges (except those required by lender for seller
to pay)
- Interest
on new loan from date of funding to 30 days prior to first
payment date
- Assumption/Change
of Records fees for take-over of existing loan
- Beneficiary
Statement fee for assumption of existing loan
- Inspection
fees (roofing, property inspection, geological, etc.)
- Lender’s
title policy
- Fire
insurance premium for first year
Who
Pays For What . . .
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South
Bay Brokers Manhattan Beach
2501 N Sepulveda
Manhattan Beach, CA 90266
(310) 546-7611
(310) 545-0515 Fax
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South
Bay Brokers Redondo Beach
1640 So. Pacific Coast Hwy.
Redondo Beach, CA 90277
(310) 375-0583
(310) 375-9616 Fax
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