“What costs do the buyer and seller usually pay?”
Answer:
Division of costs vary by geographic region. In San Diego, the buyer usually pays:
Home inspection + any other inspections (except termite)
½ the escrow fee
Lender’s policy of title insurance
Notary & recording fees for loan documents
All new loan charges (credit report, appraisal, points, etc.)
Prorated loan interest
Prorated property tax
Prorated HOA fee
Fire insurance for first year
In San Diego, the seller usually pays:
Short Sale:
Termite inspection & Section 1 repairs
Legally required retrofits: smoke detectors, water-heater straps, perhaps toilets
½ the escrow fee
Owner’s policy of title insurance
Real estate fee
Notary & recording fees for grant deed
County transfer tax
Homeowner association document and transfer fees
Pro-rated HOA dues
Any loan fees required by seller to pay (VA)
Homewarranty
Property tax proration
Balance of mortgages against the home
Any loan prepayment penalty
Pro-rated property taxes
