Below you will find the traditional distribution of expenses associated with a purchase of real estate. However, many of these items can be negotiated by both parties at the time of the offer, excluding some expenses required by the lender to be paid specifically by seller.

 

Buyer Typically Pays For:

• Escrow Fees

• Document preparation

• Documentary Transfer Tax****

• Notary fees

• Recording Fees for Documents in Buyer’s Name

• Termite Inspection* 

• Inspection Fees (Roofing, Property inspection, Geological, etc.)*

• Tax proration (from date of acquisition)

• Homeowner’s transfer fee**

• All new loan charges***

• Interest on New Loan From Date of Funding to 30 Days Prior to First Payment Date

• Assumption/Change of Records Fees to Take-Over of Existing Loan**

• Beneficiary Statement Fee for Assumption of Existing Loan**

• Fire Insurance Premium for First year**

• Title insurance Premium: Owner’s Policy

• Title Insurance Premium: Lender's Policy

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Seller Typically Pays For:

• Real Estate Broker-Agent Commissions

• Escrow Fees

• 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** 

• Termite work** 

• Home Warranty**

• 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**

• Any and All Delinquent Taxes

• Notary Fees

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*According to the Signed Contract.

**If Applicable to the Transaction or Property

***Depends on the Type of Loan

****Orleans Parish Only

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The above comments and information are  intended as an introduction to the costs related to real estate closings and should not be relied upon as an exclusive list of charges or costs that may appear.