Who Pays What?

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)

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

Exceptions

On VA loans, SELLER pays:

On FHA loans, SELLER pays:

Connie Hall 

Phone: (503)319-9979

Fax: 1 (866) 499-9979

www.allbrokersrealestate.com 

 

 

Connie Hall, Broker
Principal Broker

connie@conniehallrealtor.com
 
 

 
   
Copyright © 2010 by Connie Hall,  All rights reserved,

 

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