Escrow Thursday: Who is Responsible For Escrow Fees

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
Pest inspection
Lender fees including:
Credit report
Loan originiation fee*
Loan interest*
Private mortgage insurance*

*Fees determined by sales price and/or loan amount.

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