Who Pays What in Santa Clara County?
|
The Seller can generally be expected |
The Buyer can generally be expected |
| Real Estate Commission | Lender’s new loan charges (except those required by lender for seller to pay |
| Escrow Fee | Interest in new loan from date of funding to 30 days prior to first payment date |
| Buyer’s Title Insurance Premium | Lender’s Title Insurance Premium |
| 50% of any city transfer/conveyance tax according to contract | 50% of any city transfer/conveyance tax according to contract |
| Documentary transfer tax ($1.10 per $1000 of sale price) | County preliminary change of ownership fee (P.C.O.R.) |
| Document preparation fee | Document preparation fee |
| Notary fees | Notary fees |
| Recording charges to clear all documents of record against the seller | Recording charges for all documents in buyer’s name |
| Property tax proration (to date of acquisition) | Property tax proration (to date of acquisition) |
| Termite inspection according to contract | Termite inspection according to contract |
| Work/repairs required according to contract | Fire insurance premium for first year |
| Homeowner’s association statement fee and prorata dues (to date of acquisition) | Homeowner’s association transfer fee and prorata dues (from date of acquisition) |
| Home warranty according to contract | Home warranty according to contract |
| Special delivery/courier fees, if required | Special delivery/courier fees, if required |
| Bonds or assessments according to contract | Assumption/change of records fee, if taking over existing loan |
| Any buyer’s new loan charges specified by lender for seller to pay | Inspection fees according to contract (geological, property, roofing, etc.) |
| Matters of record against the property of seller (loans, tax liens, judgments, etc.) and interest and fees required to clear them (statement fees, reconveyance/trustee fees, and prepayment penalties) | Other prorations (rents, insurance, etc.), if applicable |
Note: All fees charged are governed by the terms of the sales contract and other written escrow instructions from buyer and seller