WHO TYPICALLY PAYS FOR WHAT Seller and Buyer Closing Costs
Closing costs are fees paid by the buyer and/or seller during the transfer of property ownership. While costs vary with each unique transaction and are often negotiated within the Contract to Buy and Sell real estate, this breakdown offers a general idea of what to expect. For more info, connect with your local title, escrow, attorney, or real estate professional.
Seller(s) Typically Pays for: • Owner’s title insurance premium • Owners Extended Coverage • Half of the bundled closing fee (per real estate contract) • Property tax proration (thru date of closing) • HOA/CIC docs (if applicable) • Unpaid HOA dues • Payoff of existing loan balance(s), any interest/fees/prepayment/reconvey- ence, misc fees for seller • Document release fee • Real estate commission (per real estate contract)
Buyer(s) Typically Pays for: • Half of the closing fee (per real estate contract) • HOA status letter, transfer, and dues from closing forward • Recording fees ($43 per doc) • Closing protection letter (CPL) • First year hazard insurance + reserves • Document preparation • Real estate commission (per real estate contract) • Lender’s title policy and endorsements (if applicable) • Any new loan charges, origination, in- terest, and misc lender fees for buyer’s new mortgage (if applicable) • Inspection and appraisal fees Information provided herein is a general sample and may not be specific to your unique transaction. For ac- curate costs, please contact your title and escrow agent, attorney, or real estate professional.
• Water and sewer adjustments • Judgments, tax liens, etc filed against seller • Work orders (per real estate contract)
12 | Colorado Seller Guide
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