Escrow Thursday: Who is Responsible For Which Fees

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:
     Appraisal
     Credit report
     Loan origination fee*
     Loan interest*
     Private mortgage insurance*

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

Payment of fees above can be negotiated within contract.

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