FEES: WHO PAYS FOR WHAT IN CALIFORNIA
Closing costs may be confusing. Let’s break it down by buyer and seller cost.
THE SELLER TYPICALLY PAYS FOR: 9 Sellers agent compensation 9 Sellers Concessions, if any 9 Real Estate excise tax, if any 9 Any city transfer/conveyance tax* 9 Document preparation (if applicable) 9 Documentary transfer tax, if any 9 Payoff of all loans in seller’s name 9 Interest accrued to lender being paid off 9 Statement fees, reconveyance fees and any prepayment penalties 9 Any judgments, tax liens, etc. against the seller 9 Tax proration
9 Any unpaid homeowner’s dues 9 Recording charges to clear all 9 Any bonds or assessments 9 Any and all delinquent taxes 9 Mobile Notary fees, if any 9 Homeowner’s transfer fees 9 Title Insurance premium for owner’s policy*
documents of record against seller
* Practice varies by county and will be detailed in PSA
Disclaimer: This article is not intended to be an all inclusive list of fees and charges on every transaction, but rather a guide to the major costs of Buying or Selling real estate property. We would be happy to review and explain your closing costs prior to finalize the transactions.
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