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Sample Closing Cost

This list includes many typical closing costs and is intended as sample information only.  Areas of California have different customary traditions on closing cost sharing between buyer and seller.  Remember, closing cost are a negotiable  item.  Most of the typical closing costs are listed below, however, other costs not listed here may apply to your particular situation.

In addition to the following charges, there are several miscellaneous charges you may find on your closing statement. You need to inspect these charges carefully and make sure the services were provided before you pay for it.

  • COMMISSION
    The seller will pay commission fees to the real estate agents representing both the buyer and seller.
     

  • PROPERTY TAXES
    The seller is responsible for the payment of property taxes until the last day of ownership.  Property taxes will be prorated between the buyer and seller based upon the actual date of closing.  Buyers, Please note!  You will receive a supplemental tax bill from the County for the additional evaluation after the closing.  Actual tax rates will vary by city, school district, or special assessment districts, but 1.125% is a good planning rate.
     

  • HOMEOWNER'S INSURANCE
    The buyer is responsible for purchasing a homeowner's policy prior to the close of escrow.   Lender requirements will vary on the amount of escrow requirements for the insurance policy if it is not paid in full in advance.
     

  • ASSESSMENT AND LIENS
    Any assessments or liens on the property need to be paid and/or resolved before the close of escrow. Examples include tax liens or judgments, etc. This is the seller's responsibility.
     

  • TITLE INSURANCE
    The financial responsibility for title insurance varies from county to county. In some areas the buyer is responsible and some areas the seller is responsible. Also, the buyer and seller may agree to a 50/50 split. 
     

  • ESCROW SERVICES
    Like title insurance, the financial responsibility for escrow services varies from area to area. In almost all cases locally, escrow are handled by the title company.

Responsibility for the following fees may be negotiable when you open escrow. Once again, these costs may or may not apply to your specific situation.

  • PROPERTY INSPECTION FEES
     

  • TERMITE INSPECTION
     

  • TERMITE REMOVAL/REPAIR COSTS
     

  • DOCUMENT PREPARATION FEES
     

  • DEED RECORDING CHARGES
     

  • LOAN ASSUMPTION FEES
     

  • HOME WARRANTY
     

  • UTILITY ADJUSTMENTS
     

  • APPRAISAL