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In the Tri-County Area,
the SELLER can generally be expected to pay for:
- Owner’s title insurance premiums
- Broker Fee
- Escrow fee (½ share)
- Document preparation fee
- Washington County transfer tax ($1.00 per $1,000 of sales price (½ share))
- Any loan fees required by buyer’s lender (FHA/VA)
- Payoff of all loans or existing loan balance being assumed by buyer
- Interest accrued to lender being paid off, statement fees, reconveyance fees and any prepayment penalties.
- Inspection (according to contract)
- Repairs (according to contract)
- Any judgments, tax liens, etc., against seller
- Recording charges to clear all documents of record against seller
- Unpaid taxes plus tax pro-ration to date of recording
- Any unpaid homeowners dues plus date of recording
- Any bonds or assessments (according to contract)
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In the Tri-County Area,
the BUYER can generally be expected to pay for:
- Lender’s title policy premiums
- 50% of Washington County transfer tax/conveyance tax (according to contract)
- Document preparation (if applicable)
- Recording charges for all documents in buyer’s names
- Inspection (according to contract)
- Tax proration (from date of acquisition)
- All new loan charges (except those required by lender for seller to pay)
- Tax and insurance impound if required by lender
- Interest on new loan from date of funding to 30 days prior to first payment date
- Assumption/Change of Records fees for takeover of existing loan (proration of payments, Escrow/Impound if applicable)
- Beneficiary Statement Fee for assumption of existing loan
- Inspection fees (roofing, property inspection, geological, etc.)
- Fire insurance premium for first year
- Early issue on new construction
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