Who Pays What?

Along the negotiation stage of the contract, a closing date is determined by mutual agreement. “Closing” is when the buyer and seller sign the paperwork, transfer of funds is initiated and the documents are recordeed, therefore executing the contract. Prior to closing, the escrow or title company complete an itemized settlement statement for both parties. We can help you along the way to better understand which fees apply and how they are to be paid.

As a buyer, you will typically receive:

  • Earnest money deposit

Typically the buyer pays:

  • One-half of escrow or legal fees paid to the escrow company or attorney for preparing the docs
  • Document preparation fees
  • Recording & notary fees
  • Title insurance & title search
  • Local transfer taxes(if applicable)
  • Inspections or repairs you have agreed to pay for
  • Loan & origination fees
  • Appraisal
  • Credit report fees