Escrow Fees and Who is Responsible for Which Fee.
The table below shows the typical fees paid by a buyer and seller in a real estate transaction. If you have further questions, please don’t hesitate to ask. I will be happy to answer any and all of your questions.
|Seller is responsible for…||Buyer is responsible for…|
|Owner’s title insurance policy*||Lender’s title insurance policy*|
|1/2 escrow fee*||1/2 escrow fee*|
|Excise tax*||Recording fees|
|Real estate commissions*||Surveys|
|Utility payoffs||1st year fire insurance|
|Loan balances||1st year flood insurance (if applicable)|
|Doc prep fees – power of attorney, etc.||Doc prep fees – quit claim deed, etc.|
|Misc. fees (wire, courier, signing fees)||Misc. fees (wire, courier, signing fees)|
|Pro-rated property taxes||Pro-rated property taxes|
|Home warranty (depends on contract)||Home warranty (depends on contract)|
|Homeowner’s association fees:||Homowner’s association fees:|
|Pro-rated association dues||Pro-rated association dues|
|Resale certificate / misc fees||Transfer fee / capital contribution|
|FHA/VA financing, other fees may apply||Property inspection|
|Lender fees including:|
|Loan originiation fee*|
|Private mortgage insurance*|
*Fees determined by sales price and/or loan amount.