During the negotiation stage
of the transaction, a mutually agreed-upon date for closing
is determined. "Closing" is when you and the
seller sign all the paperwork and pay your share of the
settlement fees, and the documents are recorded. Settlement
obligations vary widely due to specific contract language,
local laws and customs. Prior to closing, the closing
agent (usually an escrow or title company or attorney)
will complete a detailed settlement statement for both
buyer and seller. Your Windermere agent can help you understand
which of the following typical settlement fees apply to
you.
The buyer will receive:
The buyer pays:
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One-half of
escrow or legal fees paid to the attorney or escrow
company for preparing the closing |
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Repairs
or inspections the buyer has agreed to pay for
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Document preparation
fees |
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Credit
report fees
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Recording and
notary fees |
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Loan fees
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Title search
and title insurance |
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Appraisal fees
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Local transfer
taxes, if any |
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San Juan County Land
Bank tax |
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Owner's Welcome
