(602) 749-7000       Mon - Fri 8:00 AM - 5:00 PM       3131 East Camelback Rd, Suite 210 Phoenix, AZ 85016

Closing Costs – Who Pays What

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DownpaymentBUYERBUYERBUYERBUYERBUYER
Termite (Wood Infestation) Inspection (negotiable except VA)SELLER
Property Inspection (if requested)BUYERBUYERBUYERBUYERBUYER
Property Repairs, if any (negotiable)SELLERSELLERSELLERSELLERSELLER
New Loan Origination Fee (negotiable)BUYERBUYERBUYER
Discount Points (negotiable)BUYERSELLERBUYER
Document Preparation Fee (Charge Selling FHA/VA)SELLERSELLERBUYER
Credit ReportBUYERBUYERBUYERBUYER
Appraisal or Extension Fee (negotiable)BUYERBUYERBUYER
Interest Proration on Seller's Existing LoanSELLER
Existing Loan PayoffSELLERSELLERSELLERSELLER
Existing Loan Payoff DemandSELLERSELLERSELLERSELLER
Loan Prepayment Penalty (if any)SELLERSELLERSELLERSELLER
Next Month's PITI PaymentBUYERBUYERBUYERBUYER
Prepaid Interest (approx. 30 days)BUYERBUYERBUYER
Mortgage Transfer FeeSPLIT
Reserve Account Balance (Credit Seller/Charge Buyer)PRORATEPRORATEPRORATEPRORATE
FHA MIP, VA Funding Fee, PMI PremiumPRORATEBUYERBUYERBUYER
Assessments payoff or prorationSELLERSELLER
TaxesPRORATEPRORATEPRORATEPRORATEPRORATE
Tax ImpoundsBUYERBUYERBUYER
Tax Service ContractSELLERSELLERBUYER
Fire/Hazard InsuranceBUYERBUYERBUYERBUYERBUYER
Flood InsuranceBUYERBUYERBUYER
Homeowners Association (HOA Transfer Fee)SPLITSPLITSPLITSELLERSPLIT
HOA/Disclosure FeeSELLERSELLERSELLERSELLERSELLER
Current HOA PaymentPRORATEPRORATEPRORATEPRORATEPRORATE
Next Month's HOA PaymentBUYERBUYERBUYERBUYERBUYER
Home Warranty Premium (negotiable)
Realtor's CommissionsSELLERSELLERSELLERSELLERSELLER
ALTA Homeowners Title PolicySELLERSELLERSELLERSELLERSELLER
Lenders Title Policy and EndorsementsBUYERBUYERBUYER
Account Servicing Set-up Fee (negotiable)SPLIT
Escrow FeeSPLITSPLITSPLITSELLERSPLIT
Recording Fees (Flat Rate)SPLITSPLITSPLITSPLITSPLIT
Reconveyance/Satisfaction FeeSELLERSELLERSELLERSELLER
Courier/Express Mail FeesSPLITSPLITSPLITSELLERSPLIT
Wire FeesSPLITSPLITSPLITSELLERSPLIT
Email Loan DocumentsBUYERSELLERBUYER

Note: Prorated items will appear on Closing Statement as charges for one and credits for the other.

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