Alisa Rutherford: Indio Real Estate
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 Who Pays What?


The Seller can generally be expected to pay for:

  • Real estate commission
  • Title insurance premium - Owner's policy
  • Document preparation fee for deed
  • Documentary transfer tax ($1.10 per $1,000 of consideration, exclusive of the value of any lien or encumbrances attaching to the property at time of sale, except for San Francisco.)
  • Any city transfer / conveyance tax (unless otherwise agreed to by parties according to contract)
  • Some loan fees required by buyer's lender (VA/FHA)
  • Escrow fee (50%)
  • Payoff all loans in seller's name (unless existing loan is being assumed by buyer)
  • Interest accrued to lender being paid off. Statement fees, reconveyance fees and any prepayment penalties.
  • Termite inspection (according to contract)
  • Termite work (according to contract)
  • Homeowner's transfer fee
  • Any judgements, tax liens, etc., against the seller
  • Tax proration (for any taxes unpaid at time of transfer of title)
  • Any unpaid homeowner's dues
  • Recording charges to clear all documents of record against seller
  • Any bonds or assessments (according to contract)
  • Any and all delinquent taxes
  • Home Warranty (according to contract)
  • Notary fees for deed

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 WHO PAYS WHAT?
The Buyer can generally be expected to pay for:
  • Title insurance premium - Lender's policy
  • Escrow fee (50%)
  • Document preparation (if applicable)
  • Notary fees for loan documents
  • Recording charges for all documents in buyer's name
  • Tax proration (from the date of acquisition)
  • All new loan charges (except those required by lender for seller to pay)
  • Interest on new loan from date of funding to 30 days prior to first payment date
  • Assumption / Change of Records fees when existing loan is being assumed
  • Beneficiary Statement fee for assumption of existing loan
  • Inspection fees (roofing, property inspection, geological, etc.)
  • Fire insurance premium for first year
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