Home Selling in Sacramento>Question Details

innvisioninc, Home Buyer in Sacramento, CA

when spliting escrow 50/50 is 1.95 per thousand 195.00 base fee fair. does each side get the same fee charge or is it split.?

Asked by innvisioninc, Sacramento, CA Tue Jul 9, 2013

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Not sure what you mean about 195 as the base price, etc.

Escrow fees are different from escrow company to escrow company - however, the fee is based on purchase price. And yes, if it is noted in your contract that the split is 50/50, then both buyer and seller pay equal amounts. This does not apply to the other charges.
0 votes Thank Flag Link Fri Jul 19, 2013
If your agreement with the buyer is to split the fee, then that is what the escrow company will do. Your escrow officer can run a Seller net sheet for you based on your contract terms for all your costs not just escrow fee.
The escrow service benefits both Seller and Buyer so splitting the costs is not uncommon. Ask them if the 195 is your portion of the escrow service costs.
0 votes Thank Flag Link Wed Jul 10, 2013
I know everyone wants to be helpful, but the best way to get the answer is to ask your escrow officer or your real estate agent. Either of those experts will be able to look at the actual contract and give you accurate figures. We posters on Trulia Voices don't have a copy of your contract, so can only guess about what it really says about closing costs.
0 votes Thank Flag Link Tue Jul 9, 2013
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
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50/50 means you're both paying half of that fee.

As I responded in your other question, all fees are negotiable as part of the contract.

I'm kind of curious why you have not discussed this with your listing agent? Your realtor wants to make sure you're totally informed through all aspects of the marketing, sale, and negotiating a contract for the sale of your home. Or are you trying to sell the home on your own without a realtor?
If you are selling 'for sale by owner' I caution you that this is only step one of things you need to know about. You are negotiating against an expert negotiator on the other side, and there are federal mandates of disclosures and actions that you need to do in selling a residential home to the public.

Hopefully you have a realtor who can answer all of your questions for you and make sure you're understanding the whole process. It's not rocket science but you do need to be thorough or it can cost you. Good luck!
0 votes Thank Flag Link Tue Jul 9, 2013
If you're investigating on your own, ask the company what the title & escrow fees are based upon a hypothetical price. The actual written contract provides for specifying who will pay what share of those fees. Market conditions and the offering price generally determine what is a fair split i.e. if the offer is high and they want you to pay those fees it may be acceptable. if the offer is average you might agree to split those fees 50/50 or any other ratio, a low offer might require the buyer to pay those in order to get the offer accepted. Best advice? Hire a Realtor to advise you.

Mike Schubert
Masters Club Member
Better Homes & Gardens RE
1819 K Street #100
Sacramento CA 95811
Phone: 916.799.8300
FAX: 916.491.1525
http://www.MikeSchubertRealtor.com
DRE# 01894768
0 votes Thank Flag Link Tue Jul 9, 2013
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