Normal closing costs and who pays in Arizona

Real Estate Agent with The Monaghan Group DRE #BR526609000

1. Downpayment BUYER 

2. Termite (Wood Infestation) Inspection (negotiable except on VA) SELLER

3. Property Inspection (if requested by Buyer) BUYER

4. Property Repairs, if any (negotiable) SELLER 

5. New Loan Origination Fee (negotiable) BUYER 

6. Discount Points (negotiable) BUYER

7. Credit Report BUYER 

8. Appraisal or Extension Fee (negotiable) BUYER 

9. Existing Loan Payoff SELLER 

10. Existing Loan Payoff Demand SELLER 

11. Loan Prepayment Penalty (if any) SELLER

12. Next Month’s PITI Payment BUYER

13. Prepaid Interest (approx. 30 days) BUYER

14. Reserve Account Balance (Credit Seller / Charge Buyer) PRORATE 

15. FHA MIP, VA Funding Fee, PMI Premium BUYER

16. Assessments payoff or proration (sewer, paving, etc.) SELLER

17. Taxes PRORATE 

18. Tax Impounds BUYER 

19. Tax Service Contract SELLER

20. Fire/Hazard Insurance BUYER 

21. Flood Insurance BUYER 

22. Homeowners Association (HOA) Transfer Fee BUYER or SELLER BUYER negotiable

23. HOA/Disclosure Fee SELLER

24. Current HOA Payment PRORATE 

25. Next Month’s HOA Payment BUYER 

26. Home Warranty Premium (negotiable) BUYER or SELLER 

27. Realtors®’ Commissions SELLER

28. Homeowners Title Policy SELLER 

29. Lenders Title Policy and Endorsements BUYER 

30. Escrow Fee (NOTE: Charge Seller on VA Loan) SPLIT 

31. Recording Fees (Flat Rate) SPLIT

32. Reconveyance/Satisfaction Fee SELLER 

33. Courier/Express Mail Fees SPLIT

Of course this is only a general guide and specific contracts can adjust the outcome.

Courtesy of First American Title

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