CLOSING COSTS: WHO PAYS WHAT


 

1. Downpayment

      • Cash - Buyer
      • FHA - Buyer
      • VA - Buyer
      • Conventional - Buyer

2. Termite (Wood Infestation) Inspection (negotiable except on VA)

      • Cash
      • FHA
      • VA - Seller
      • Conventional

3. Property Inspection (if requested by Buyer)

      • Cash - Buyer
      • FHA - Buyer
      • VA - Buyer
      • Conventional - Buyer
4. Property Repairs, If Any (negotiable) 
      • Cash - Seller
      • FHA - Seller
      • VA - Seller
      • Conventional - Seller
5. New Loan Origination Fee (negotiable)
      • Cash
      • FHA - Buyer
      • VA - Buyer
      • Conventional - Buyer 
6. Discount Points (negotiable)
      • Cash
      • FHA Buyer 
      • VA Buyer 
      • Conventional Buyer   
7. Credit Report
      • Cash 
      • FHA - Buyer
      • VA - Buyer
      • Conventional - Buyer 
8. Appraisal or Extension Fee (negotiable)
      • Cash 
      • FHA Buyer 
      • VA Buyer 
      • Conventional Buyer   
9. Existing Loan Payoff
      • Cash - Seller
      • FHA - Seller
      • VA - Seller
      • Conventional - Seller 
10. Existing Loan Payoff Demand
      • Cash - Seller
      • FHA - Seller
      • VA - Seller
      • Conventional - Seller  
11. Loan Prepayment Penalty, If Any
      • Cash - Seller
      • FHA - Seller
      • VA - Seller
      • Conventional - Seller
12. Next Month’s PITI Payment
      • Cash 
      • FHA - Buyer
      • VA - Buyer
      • Conventional - Buyer 
13. Prepaid Interest (approx. 30 days)
      • Cash 
      • FHA - Buyer
      • VA - Buyer
      • Conventional - Buyer 
14. FHA MIP, VA Funding Fee, PMI Premium
      • Cash 
      • FHA - Buyer
      • VA - Buyer
      • Conventional - Buyer  
15. Assessments Payoff or Proration (sewer, paving, etc.) (negotiable)
      • Cash - Buyer or Seller
      • FHA - Buyer or Seller
      • VA - Buyer or Seller
      • Conventional - Buyer or Seller 
16. Taxes
      • Cash - Prorate
      • FHA - Prorate
      • VA - Prorate
      • Conventional - Prorate  
17. Tax Impounds
      • Cash 
      • FHA - Buyer
      • VA - Buyer
      • Conventional - Buyer 
18. Tax Service Contract
      • Cash 
      • FHA - Seller
      • VA - Seller
      • Conventional - Buyer 
19. Fire / Hazard Insurance
      • Cash - Buyer
      • FHA - Buyer
      • VA - Buyer
      • Conventional - Buyer 
20. Flood Insurance (if applicable)
      • Cash - Buyer
      • FHA - Buyer
      • VA - Buyer
      • Conventional - Buyer 
21. Homeowners Association (HOA) Transfer Fee (negotiable)
      • Cash - Buyer or Seller
      • FHA - Buyer or Seller
      • VA - Buyer or Seller
      • Conventional - Buyer or Seller 
22. HOA / Disclosure Fee (negotiable)
      • Cash - Buyer or Seller
      • FHA - Buyer or Seller
      • VA - Buyer or Seller
      • Conventional - Buyer or Seller 
23. Current HOA Payment
      • Cash - Prorate
      • FHA - Prorate
      • VA - Prorate
      • Conventional - Prorate 
24. Next Month’s HOA Payment
      • Cash - Buyer
      • FHA - Buyer
      • VA - Buyer
      • Conventional - Buyer 
25. Home Warranty Premium (negotiable)
      • Cash - Buyer or Seller
      • FHA - Buyer or Seller
      • VA - Buyer or Seller
      • Conventional - Buyer or Seller 
26. Real Estate Agent/Broker Commissions
      • Cash - Seller
      • FHA - Seller
      • VA - Seller
      • Conventional - Seller
27. Owner’s Title Policy
      • Cash - Seller
      • FHA - Seller
      • VA - Seller
      • Conventional - Seller
28. Lender’s Title Policy and Endorsements
      • Cash
      • FHA - Buyer
      • VA - Buyer
      • Conventional - Buyer 
29. Escrow Fee (NOTE: Charge Seller on VA Loan)
      • Cash - Split
      • FHA - Split
      • VA - Seller
      • Conventional - Split
30. Recording Fee (negotiable)
      • Cash - Buyer or Seller
      • FHA - Buyer or Seller
      • VA - Buyer or Seller
      • Conventional - Buyer or Seller
31. Reconveyance / Satisfaction Fee
      • Cash - Seller
      • FHA - Seller
      • VA - Seller
      • Conventional - Seller

32. Courier / Express Mail Fees

      • Cash - Split
      • FHA - Split
      • VA - Seller
      • Conventional - Split 
 
 
 
 

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