WHO PAYS WHAT IN OREGON
SELLER PAYS
BUYER PAYS
TYPICAL COSTS
TYPICAL COSTS
The following costs generally affect all transactions: Escrow Fee - one-half of the fee, based on title company’s fee schedule Recording Fees - based on county fee schedule Title Premium - based on fixed statewide fee schedule Real Estate Commission - based on agreement with Broker Tax Prorate - to apportion taxes between parties as of date of closing General Costs - as listed for each specific transaction, as requested by principals Release fees for loan payoff(s)
The following costs generally affect all transactions: Escrow Fee - one-half of the fee, based on title company’s fee schedule Recording Fees - based on county fee schedule Fire Insurance Premium - mandatory when any lender is involved, including the seller’s lender Tax Prorate - to apportion taxes between parties as of date of closing General Costs - as listed for each specific transaction, as requested by the principals
LAND SALE CONTRACT TRANSACTION
Attorney Fee - optional, and is sometimes shared with seller Collection Escrow Setup Fee - optional, and is sometimes shared with seller Recording Fee - for contract or memorandum thereof Assumption or Assignment Next monthly payment due, if required by lender Recording Fee - for Assumption/Assignment of Agreement, if required by lender ASSIGNMENT OF CONTRACT FOR ASSUMPTION OF LOAN TRANSACTION
LAND SALE CONTRACT TRANSACTION
Attorney Fee - optional, and is sometimes shared with purchaser Collection Escrow Setup Fee - optional, and is often shared with purchaser Any delinquent payments to bring contract or loan current Prorate share of current month’s interest based on current rate ASSIGNMENT OF CONTRACT FOR ASSUMPTION OF LOAN TRANSACTION
CONVENTIONAL, FHA, VA LOAN TRANSACTIONS
CONVENTIONAL, FHA, VA LOAN TRANSACTIONS
Lenders title insurance policy & endorsements, as required by lender Loan Fee - as required by lender Credit Report Fee - as required by lender Appraisal Fee - as required by lender Mortgage Insurance Premium - based on fee schedule and endorsements of lender Prepaid Interest - if required by lender VA Loans only - funding fee, if required by lender FHA, VA, and some Conventional Loans - reserves for real property taxes, fire insurance and mortgage insurance
Any closing cost (not expenses of property or loan interest) negotiated on behalf of the purchaser, subject to lender’s approval FHA, VA Loans - check with lender for any applicable seller costs
DISCLAIMER: This flyer 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 property. WFG would be happy to review and explain your closing cost prior to finalizing the transactions.
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