Below is a general breakdown of customary closing costs paid by sellers and buyers in Marin County.

The Seller generally pays for:

• real estate commission
• document preparation fees for the deed
• documentary transfer taxes
• payoffs for all loans against the property
• judgments, liens, etc. against the seller
• recording charges to clear documents of record against the property
• prorated taxes
• any unpaid HOA dues
• any tax delinquencies
• notary fees incurred by seller
• bonds or assessments (as agreed in contract)
• home warranty (as agreed in contract)

The Buyer generally pays for:

• title insurance
• ALTA inspection fees
• escrow fees
• applicable document preparation fees
• recording charges for documents cast into buyer’s name
• prorated taxes
• HOA transfer fees
• loan charges
• interest on new loan(s) from the date of funding to 30 days prior to date of first payment
• inspection fees (pest, home, roof, etc.)
• homeowners policy’s first year
• notary fees incurred by buyer
• bonds or assessments (as agreed in contract)
• home warranty (as agreed in contract)

Keep in mind that these closing costs may or may not apply to every purchase and that closing costs can be negotiated between the parties.

This entry was posted on Sunday, September 30th, 2007 at 6:58 pm and is filed under About Marin. 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.