A major
question in every escrow,
who pays what varies by county ordinances and standard
practices. What follows is a general guide to this information
for Saratoga and Santa Clara County. 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.
Saratoga Sellers 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 who pays what in Saratoga real estate
transactions.. |
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