| A
major question in every escrow, “Who pays what?”
varies by county ordinances and standard practices in
California. What follows here is a county-by-county
guide to this information. Please note that these are
"customary" practices and all fees charged
are governed by terms of the sales contract and other
written escrow instructions. Note: on some FHA, VA or
other government-backed loans, the buyer will pay some
fees that governmental regulations will not allow you
to pay.
Seller's Generally Pay:
• Real estate commission
• Document transfer tax ($1.10 per $1,000 of sales
price)
• Notary fees
• Property tax proration (to date of acquisition)
• Special delivery/courier fees, if required
• Document preparation fees
• Document recording charges
• Homeowner’s association statement fee
and prorata dues
• Home warranty (according to contract)
• Work/repairs required (according to contract)
• Matters of record against the property or seller
(loans, tax liens, judgments etc.) and fees required
to clear them (statement fees, reconveyance/trustee
fees and prepayment penalties)
• Bonds and assessments (according to contract)
Buyer's Generally Pay:
• Title insurance policy premiums (lender’s
and yours)
• Escrow fees
• Notary fees
• Property tax proration (from acquisition date)
• Special delivery/courier fees, if required
• Document preparation fees
• Document recording charges
• Homeowner’s association transfer fee and
prorata dues
• City costs
• Home warranty (according to contract)
• Inspection fees (according to contract)
• Matters of record against yourself including
tax liens, judgments and fees required to clear them
• Fire insurance premium for the first year
• Assumption/change of records fees if you are
taking over an existing loan
• Lender’s new loan charges
• Interest on new loan from date of funding to
30 days prior to your first payment
• Other prorations (rents, insurance etc.) if
applicable.
Contact
us for more info on what a Saratoga buyer pays |
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