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Who Pays For What In Escrow

This is meant to be a general guideline for who can expect to pay for certain costs during an escrow in the South Bay. All of these items are negotiable and can be addressed during the offer and counter offer process. For clarification or additonal information contact us. Although this is the traditional distribution of expenses associated with a sale, many items may be negotiated between the parties at the time of the offer, notwithstanding certain expenses required by the lender to be paid by seller.

Items the Seller can generally be expected to pay for:

  • Real Estate commission
  • Escrow fees
  • County documentary transfer tax (55 cents per $500 of consideration, exclusive of the value of any
    lien or encumbrances attaching to the property at time of sale)
  • Applicable city transfer/conveyance tax according to contract)
  • Document preparation fee for deed
  • Any loan fees required by buyer’s lender
  • 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)
  • Homeowners transfer fee
  • Homeowners transfer tax
  • City transfer tax (generally split 50/50) if applicable
  • Any judgments, tax liens, etc., against the seller
  • Tax proration (for any taxes unpaid at time of transfer of title)
  • Any unpaid homeowner’s dues
  • Recording charges to clear all documents of record against seller
  • Any bonds or assessments (according to contract)
  • Any and all delinquent taxes
  • Notary fees – escrow fee
  • Title insurance premium: Owner’s policy

The Buyer can generally be expected to pay for:

  • Escrow fees
  • Document preparation (if applicable)
  • Notary fees
  • Recording charges for all documents in buyer’s name
  • Tax proration (from date of acquisition)er fee
  • All new loan charges (except those required by lender for seller to pay)
  • Interest on new loan from date of funding to 30 days prior to first payment date
  • Assumption/Change of Records fees for take-over of existing loan
  • Beneficiary Statement fee for assumption of existing loan
  • Inspection fees (roofing, property inspection, geological, etc.)
  • Lender’s title policy
  • Fire insurance premium for first year

Who Pays For What . . .

South Bay Brokers Manhattan Beach
2501 N Sepulveda
Manhattan Beach, CA 90266
(310) 546-7611
(310) 545-0515 Fax
South Bay Brokers Redondo Beach
1640 So. Pacific Coast Hwy.
Redondo Beach, CA 90277
(310) 375-0583
(310) 375-9616 Fax


 

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Keith Kyle
Realtor, e-Pro, 
Top Producing Agent 
South Bay Brokers 
2501 N Sepulveda Blvd 
Manhattan Beach, CA 90266 
310-251-2344 
Keith.Kyle@SouthBayBrokers.com

 

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