Closing Costs /West Hills Ca./Woodland Hills /San Fernando Valley Real Estate

Real Estate Agent with Your Home Sold Guaranteed Realty CalBRE-01797405

 Closing Costs /West Hills Ca./Woodland Hills /San Fernando Valley Real Estate

 (Q) Esperanza Can you please explain to me what does the closing cost cover?

(A)           Buyer's Common Closing Costs                                                                

 Closing Costs

                                         Who Pays What?
                     A Guide To Closing Costs

The Buyer can generally be expected to pay for:

Title Insurance premiums (Alta Loan Policy)
Escrow Fee (50%)
Document preparation (if applicable)
Notary Fees
Recording changes for all documents in buyer's names
Termite Inspection (according to contract)
Tax pro-ration (for date of acquisition)
Homeowner's Transfer fee
All new loan charges
(except those required by Lender for Seller to pay)
Assumption/Change of Records Fee for takeover of existing loan
Beneficiary Statement Fee for assumption of existing loan
Inspection Fees (roofing,property inspection, geological, etc.)
Home Warranty ( according to contract)
City Transfer/Conveyance Tax (according to contract)
Fire Insurance Premium for first year
Buyer's portion of Sub-Escrow Fee
Escrow Loan Tie-In Fee

The Seller Can generally be expected to pay for:

Standard CLTA owner's Title Insurance
Real Estate Commission
Document preparation fee for Deed
Documentary transfer tax ($1.10 per $1,000.00 of sales price
Any City Transfer/Conveyance tax(according to contract)
Payoff of all loans in Seller's name (or existing loan balance if being assumed by buyer)
Interest accrued to Lender being paid off, Statement Fees, Reconveyance Fees and any Prepayment penalties
Termite Inspection (according to contract)
Termite work ( according to contract)
Home Warranty (according to contract)  Any judgment, tax liens,etc, against the seller
Recording charges to clear all documents of record against Seller
Tax pro-ration (for any taxes unpaid at time of transfer of title)
Any unpaid Homeowner's dues
Any bonds or assessments (according to contract)
Any and all delinquent taxes
Notary Fees
Escrow Fee (50%)
Sellers portion of Sub-Escrow Fee
Demand Fees

NOTE: There are exceptions to the Buyer when buying a short-pay/short-sale, of foreclosure.
LENDERS/SELLER usually does NOT pay for Termite, Home Protection Plans, and any other number of things. Each Lender is different, and usually not negotiable. After signing a contract with an approval from the bank. the bank will also include conditions that the buyer will have to sign before an agreement is reached.

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Posted by


       Esperanza Butler   Realtor®




Serving the Woodland Hills, West hills, Winnetka, Canoga Park, Northridge, Chatsworth, Granada Hills and just about anywhere in the San Fernando Valley.

I want to be the person you come to for help in buying or selling your home.



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Comments (5)

Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Oh there were closing costs involved.  Awe yes and there are a few.  Good list.

Jan 20, 2011 05:50 PM
Nevin Williams
Fairway Independent Mortgage Corporation - Cary, NC
Senior Mortgage Advisor

Esperanza - Great post!  I just wrote one about this yesterday too!

Jan 21, 2011 04:26 PM
Esperanza Butler® 818 926 5425
Your Home Sold Guaranteed Realty - West Hills, CA
Homes For Sale in West Hills, Ca (818) 926-5425

Tim Lorenz

It is good to have  informed buyers but if they are not. it is our job to inform them. (or, better said it is our pleasure)....Thanks for stopping by


Dear Nevin,

I hope you are doing well this new year!

Thanks for the comment.. I will have to go and check your blog I am sure it's very informative. I have been so busy 8:00 to 11:00  long days.

Thanks again for stopping by .... mi casa es su casa!

Jan 21, 2011 04:49 PM
Alexsandra Stewart
Remax equity group - Portland, OR
Broker - Portland Oregon Real Estate

Esperanza -- very nice list of costs and who pays what.  Great info to pass on to clients.   Gives me an idea to put something like this together for buyers and sellers.  Have veralized -- but this is more tangible!

Jan 21, 2011 06:41 PM
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Aug 07, 2011 09:19 PM