Typical Closing Costs

This list includes many typical closing costs and is intended to be viewed as sample information only. Some states and counties implement and divide costs differently among buyers and sellers. Most of the typical closing costs are listed below, however, other costs not listed here may apply to your particular situation.

Sample Closing Costs

In addition to the following charges, there are several miscellaneous charges you may find on your closing statement. You need to inspect these charges carefully and make sure the services were provided before you pay for it.

• COMMISSION

The seller will have to pay commission fees to the real estate agents representing both the buyer and seller.

• PROPERTY TAXES

The seller is responsible for the payment of property taxes until the last day of ownership.

• HOMEOWNER'S INSURANCE

The buyer is responsible for purchasing a homeowner's policy prior to the close of escrow.

• ASSESSMENT AND LIENS

Any assessments or liens on the property need to be paid and/or resolved before the close of escrow. Examples include tax liens or judgments, etc. This is the seller's responsibility.

• TITLE INSURANCE

The financial responsibility for title insurance varies from county to county. In some areas the buyer is responsible and some areas the seller is responsible. Also, the buyer and seller may agree to a 50/50 split. Check with your real estate professional.

• ESCROW SERVICES

Like title insurance, the financial responsibility for escrow services varies from area to area. Check with your real estate professional.

Responsibility for the following fees may be negotiable when you open escrow. Once again, these costs may or may not apply to your specific situation. Be sure to consult your real estate professional for details.

• PROPERTY INSPECTION FEES

• TERMITE INSPECTION

• TERMITE REMOVAL COSTS

• DOCUMENT PREPARATION FEES

• DEED RECORDING CHARGES

• LOAN ASSUMPTION FEES

• HOME WARRANTY

• UTILITY ADJUSTMENTS