SELLER'S CLOSING COST:
ïƒ˜ Both brokerâ€™s compensation
ïƒ˜ Natural Hazard Disclosure Report
ïƒ˜ County Transfer Tax
ïƒ˜ Pre-inspections fees, if done in advance
BUYER'S CLOSING COST:
ïƒ˜ Loan Fees including origination fee if any, loan processing, underwriting and funding fees, flood and tax search fees, credit report fee
ïƒ˜ Inspection Fees
ïƒ˜ Appraisal Fees
ïƒ˜ Escrow Fees
ïƒ˜ Owner and Lenderâ€™s Title Fees
ïƒ˜ Misc fees such as recording fee and notary fee
Other costs such as HOA documents fees, HOA transfer fees and home warranty protection policy can be negotiated to be either principalâ€™s expenses. Generally properties are sold â€œAS ISâ€ in their current condition, so any potential repair costs may or may not a negotiable item during the course of a real estate transaction. A buyer with a limited fund can very often negotiate upfront and request seller to pay for his/her closing cost.
Feel free to contact me for details on the customary practices of the other Bay Area counties.
the challenge occurs when the agreement is not completely filled out and resulting headache of dealing with "customary" vs "legal" comes up in later negotiations... the best position for a buyer to take is to think through the process and stipulate what you will pay for and what you want the seller to pay for as part of the offer to purchase. Do take into account that these days with nervous lenders any inspection, report, or work request that is in the purchase agreement will probably become an item required by the buyers lender.
Broker / Owner
Hope this helps,