UNDERSTANDING YOUR NUMBERS
BUYER EXPENSES
TYPICAL COST
SELLER EXPENSES
TYPICAL COST
HOME INSPECTION FEE
$350+/Visit
COMMISSION
6% of purchase price
APPRAISAL
$250 - $500
ATTORNEY FEE
$600 - $1,000+
CREDIT REPORT
$30 - $75 per borrower
TITLE INSURANCE (SELLER)
$2,000-$3,500*
LOAN ORIGINATION FEE
$750 - $1,250
RECORDING FEE
$75 - $250
PROCESSING FEE
$150
MUNICIPAL TRANSFER TAX
VARIES
TAX SERVICE FEE
$75-$100
STATE TRANSFER TAX
$1.00 per $1,000 of sales price
ATTORNEY FEE
$600 - $1,000+
ESCROW/SETTLEMENT FEE
$1,275 - $2,000*
COUNTY TRANSFER TAX
$.50 per $1,000 of sales price
BUYER’S TITLE CHARGES
$1,300 - $1,800
SURVEY
$500 - $1,000**
RECORDING FEE
$75 - $250
WATER CERTIFICATION
$125 - $150
MUNICIPAL TRANSFER TAX
VARIES
ZONING CERTIFICATION
$175 - $200
HOMEOWNER’S INSURANCE
$300 - $400**
INTEREST PER DAY
Loan amount x rate/365
PROPERTY TAX CREDIT TO BUYER
105 - 110% of last tax bill
INITIAL ESCROW (FOR PROPERTY TAXES)
1-9 months*** (if applicable)
MANAGEMENT COMPANY PROCESSING FEES
$250 - $500***
INITIAL ESCROW (FOR HOMEOWNER’S INSURANCE)
1-3 months (if applicable)
The figures above are intended to give you a general idea of costs and could be less or more than the amounts stated. Actual costs vary per lender, loan amount, property type and other factors. *If cash transaction, shared equally between buyer and seller. **Premium listed represents coverage for a condo. Premiums for a single family home range between $1,300 - $2,000, depending on coverage selection. ***Partially offset by property tax credit from seller.
The figures above are intended to give you a general idea of costs and could be less or more then the amounts stated. Actual costs vary per lender, loan amount, property type and other factors. *Title insurance premiums vary depending on the size of the sales price. **Not applicable for condo sales. ***If applicable, usually condos only.
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