What Does a Seller Normally Pay at Closing?

 

  • ½ of escrow fees or according to what the contract states
  • Home warranty according to what the contract states
  • Any work orders needed according to what the contract states
  • Any bonds or assessments according to what the contract states
  • Any loan fees required by the buyer’s lender according to what the contract states
  • Any judgments, tax liens, etc. that the seller has against them
  • Any Home Owners Association Dues that are unpaid/owed
  • Owner’s title insurance
  • Any recording charges to clear any documents of record the seller has against them
  • Payoff the home loan in sellers name or the existing balance assumed by buyer
  • Any interest accrued , re-conveyance fee, and prepayment penalties because of the loan being paid off
  • The excise tax based on county and sales price
  • Real Estate commission
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