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CLOSING COSTS: WHO PAYS ON PURCHASES?

By Bahman Davani, CM at Texas Five Star Realty, Plano, TX (214) 457-7055

Real Estate Broker/Owner with Texas Five Star Realty, Plano Texas

December 16, 2012 01:28 AM

CLOSING COSTS: WHO PAYS ON PURCHASES?
The closing costs stated herein are typical for residential closings. The actual closing types and costs will vary
depending upon the circumstances of each individual transaction.
To get an estimate of closing charges for buyers and/or Sellers please visit :
http://www.texasfivestarrealty.com/Estimate_Closing_Cost.asp
		TYPE OF THE LOAN
Table is a representation of who customarily pays each cost	CASH	FHA	VA	CONVENTION
1. Down payment	BUYER	BUYER	BUYER	BUYER
2, Termite (wood Infestation) Inspection	BUYER	BUYER	SELLER	BUYER
3 Properly inspection	BUYER	BUYER	BUYER	BUYER
4 Property Repairs, if any (negotiable)	SELLER	SELLER	SELLER	SELLER
5 New Loan Origination Fee (negotiable)		BUYER	BUYER	BUYER
6 Document Preparation Fee • Loan Package		BUYER	BUYER	BUYER
7 Document Preparation Fee - Warranty Deed	SELLER	SELLER	SELLER	SELLER
8 Credit Report		BUYER	BUYER	BUYER
9 Appraisal or Extension Fee (negotiable)		BUYER	BUYER	BUYER
10. Existing Loan Payoff	SELLER	SELLER	SELLER	SELLER
11, Existing Loan Payoff Demand	SELLER	SELLER	SELLER	SELLER
12 Prepaid Interest (approximately 30 days)		BUYER	BUYER	BUYER
13 FHA MIP, VA Funding Fee, PMI Premium		BUYER	BUYER	BUYER
14. Property Taxes	PRORATE	PRORATE	PRORATE	PRORATE
15. Tax Impounds		BUYER	BUYER	BUYER
16. Tax Service Contract		BUYER	SELLER	BUYER
17. Fire/Hazard insurance	BUYER	BUYER	BUYER	BUYER
18. Flood Insurance		BUYER	BUYER	BUYER
19. Homeowners Association (HOA) Transfer Fee (negotiable)	BUYER	BUYER	BUYER	BUYER
20 HOA Statement of Accounts	SELLER	SELLER	SELLER	SELLER
21 Delinquent HOA Assessments	SELLER	SELLER	SELLER	SELLER
22 Delinquent Property Taxes	SELLER	SELLER	SELLER	SELLER
23, Home Warranty Premium (negotiable)	SELLER	SELLER	SELLER	SELLER
24, REALTORS Commissions	SELLER	SELLER	SELLER	SELLER
25. Owners Title Policy (negotiable)	SELLER	SELLER	SELLER	SELLER
26, Lender's Title Policy and Endorsements		BUYER	BUYER	BUYER
27. Escrow Fee (NOTE Charge Seller on VA loan)	SPLIT	SPLIT	SELLER	SPLIT
28 Recording Fees (Flat Rate)	SPLIT	SPLIT	SPLIT	SPLIT
29 Courier/Express Mail Fee	SPLIT	SPLIT	SELLER	SPLIT

Note Prorated Items will appear on Closing Statement (HUD1) as charges for one and credits for the other

The closing costs stated herein are typical for residential closings. The actual closing types and costs will vary
depending upon the circumstances of each individual transaction.
To get an estimate of closing charges for buyers and/or Sellers please visit :
http://www.texasfivestarrealty.com/Estimate_Closing_Cost.asp