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"Agents For The Homebuyer"
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"Agents For The Homebuyer"
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Customary closing costs vary slightly
from county to county. I will address here Santa Clara County customary
closing costs since that is where I do the majority of my business. For
closing costs in other counties, leave me a message and I will arrange
for you to get the information.
In Santa Clara County there is a rule of thumb that will allow you to do
a rough calculation to get your approximate customary closing costs. This
is:
For Buyers, 2% of the purchase price plus points. In Alameda and San Mateo
Counties it is 2.5%.
For Sellers, 2% of the sales
price plus commission. In Alameda and San Mateo Counties it is 1.5%.
Here are most of the details:
County Transfer Tax
-Seller-
City Transfer Tax
50% Buyer 50% Seller
Appraisal Fee
-Buyer-
Home Warranty
-Seller-
Credit Report
-Buyer-
Policy of Title Insurance
-Seller-
Alta Policy of Title Insurance
-Buyer-
Preliminary Title Report
-Seller-
Drawing Buyers Papers, Notary -Buyer-
Drawing Sellers Papers, Notary
-Seller-
Recording, Tax Service Fee
-Buyer-
Escrow Fee
-Seller-
Loan Origination Fee (Points)
-Buyer-
Reconveyance Fee
-Seller-
Lenders Document Preparation Fee -Buyer-
Forwarding and/or Trustees Fees
-Seller-
Misc. Lender Fees, Appraisal Review -Buyer-
Discount Points on New FHA or VA Loan
-Seller-
Private Mortgage Insurance (PMI)
-Buyer-
FHA Insurance Premium
-Seller-
Prepaid Interest
-Buyer-
Geological & Flood Report
-Seller-
Impound Account
-Buyer-
Prepayment Penalty
-Seller-
Homeowners Association Doc. Fees -Buyer-
Brokerage Commission
-Seller-
Structural Pest Control Inspection -Buyer-
Structural Pest Control Repairs
-Buyer Section 2 -Seller Section 1
Property Home Inspection
-Buyer-
Plumbing Leaks, Broken Glass
-Seller-
System Repairs, ex: Electrical
-Seller-
Roof Inspection
-Buyer-
Roof Repairs
-Seller-
Pool Inspection
-Buyer-
Pool Repairs
-Seller-
Property Taxes
Prorated as of Close of Escrow
Fire Insurance
-Buyer-
Homeowners Dues
Prorated as of Close of Escrow
Rents
Prorated as of Close of Escrow
Interest on Assumed Loan(s) Prorated as of Close of Escrow
For current real estate market conditions,
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