Can you get my Tab? What are customary Closing Costs

July 21st, 2008 by Danielle Lazier
Categories: Home Buying, Home Selling, San Francisco Real Estate

Who Pays for What in San Francisco County

In San Franciso County, the Seller normally pays:	In San Franciso, the Buyer normally pays:
Real Estate Commissions	Title insurance premiums
Document preparation fee for Deed	Document preparation (if applicable)
Documentary transfer tax	Escrow fee
Notary fees	Notary fees
Payoff of all loans in seller’s name (or existing loan balance if being assumed by buyer)	Recording charges for all documents in buyers’ name
Interest accrued to lender being paid off, statement fees, reconveyance fees & any prepayment penalties	Termite inspection (according to contract)
Termite inspection and/or work (according to contract)	Homeowners association transfer fee (negotiable)
Home warranty (according to contract)	All new loan charges (except those required by lender for seller to pay – see note)
Any judgments, tax liens, etc. against the seller	Interest on new loan from date of funding to 30 days prior to first payment date
Tax proration (for any taxes unpaid at the time of transfer of title)	Assumption/change of record fees for takeover of exising loan
Recording charges to clear all documents of record against seller	Beneficiary statement fee for assumption of existing loan
Any unpaid homeowners dues	Inspection fees (roofing, property inspection, geological, etc.)
Any bonds or assessments (according to contract)	Tax pro-ration (from date of acquisition)
Any and all delinquent taxes	Home warranty (according to contract)
Note: On some FHA, VA or other government-backed loans, the seller would pay some loan fees that the buyer cannot pay due to lender requirements.	City transfer/conveyance tax (according to contract)
	Fire Insurance premium for the first year

Tags: buyer closing costs, closing costs, real estate, san francisco county, seller closing costs

This entry was posted on Monday, July 21st, 2008 at 12:00 pm and is filed under Home Buying, Home Selling, San Francisco Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.