Closing Costs

My thanks to Barbie Moss for providing this information. Please contact her with any additional questions.

BARBIE MOSS - (727) 412-2304 - Burgess33779@yahoo.com

The following tables provide an overview of the most common costs associated with buying or selling a home.  Which party (Buyer or Seller) pays each item is negotiable as well as which party will provide and pay for documents needed (Note, Mortgage, Trust, Title policy).


CASH TRANSACTION: NORMAL CLOSING COSTS

CHARGES TO SELLER

CHARGES TO BUYER

1) Doc. Stamps Deed at $7.00 per $1000.00 of sales price 1) Recording Fee: Deed $18.50*
2) Owners Title Insurance (call for quote) 2) Prepaid Mntc. or HOA fees (if applies)
3) Taxes prorated to day of closing 3) One year homeowners insurance (buyer should obtain)
4) Payoff Existing Loans 4) Inspection costs (buyer should obtain)
5) Real Estate Commission 5) Prepaid Mntc.
6) Recording Fee (if applies) For satisfaction of Mrtg. $18.50*  
7) Release Processing Fee - $45.00
 
 
* NOTE: The sales contract stipulates fees to be paid by each party. Recording fees will change from time to time.
  NOTE: Fees are all subject to change.


CASH TO MORTG. (ASSUMTION) CLOSING COSTS

CHARGES TO SELLER

CHARGES TO BUYER

1) Doc. Stamps Deed at $7.00 per $1000.00 of sales price 1) Escrow Balance of Mrtg. being assumed
2) Owners Title Insurance (call for quote) 2) Recording Fee:  Deed $18.50
3) Taxes prorated to day of closing 3) Prepaid insurances (Hazard - Flood)
4) Real Estate Commission 4) Prepaid interest (if applies)
5) Interest proration (if applies) (if paid in arrears) 5) Transfer fee to Mrtg. Co. $125.00 to 1% of balance
6) Amount of loan being assumed 6) Inspection fees (if applies)
7) Payoff 2nd Mrtg. (if applies)
7) Prepaid Mntc. (if applies)
  8) Doc. Stamps on Mrtg. Balance at $3.50 per $1000.
 
* NOTE: The sales contract stipulates fees to be paid by each party. Recording fees will change from time to time.
  NOTE: Fees are all subject to change.

CONVENTIONAL MRTG. CLOSING COSTS

CHARGES TO SELLER

CHARGES TO BUYER

1) Doc. Stamps Deed at $7.00 per $1000.00 of sales price 1) Recording Fees - Deed $18.50* Mrtg. approx. $70.00 - $215.00
2) Owners Title Insurance (call for quote) 2) Loan points (prevailing)
3) Real Estate Commission 3) Doc. Stamps on note at $3.50 per $1000 of Mrtg. amount.
4) Payoff existing loan(s) 4) Simultaneous/Mrtg. title insurance $25.00 & closing fee up to $600.
5) Recording fee - Satisfaction of Mrtg. - $18.50 5) Intangible tax on Mrtg. $2.00 per $1000
6) Tax proration to date of closing 6) First year of hazard insurance and flood (if applies)
7) Release Processing Fee - $45.00
7) Survey - approx. $300.00
* NOTE: Recording fees will change from time to time. 8) Inspections: termite approx. $60.00
* NOTE: Certain buyer non-allowable charges may apply to VA & FHA 9) Escrows: Hazard Insurance Flood (if applies), PMI, Taxes (depending on time of yr.)
  10) Prepaid Mntc.
Transitional monies are available. 11) PMI insurance for 1st yr. (if applies)
  12) Form 9 endorsement - 10% of Alta 8.1 - environmental $35.00
 

VA AND FHA MRTG. CLOSING COSTS

CHARGES TO SELLER

CHARGES TO BUYER

1) Doc. Stamps Deed at $7.00 per $1000.00 of sales price 1) Origination fee 1% of Mrtg. VA funding fee 1% of Mrtg.
2) Owners Title Insurance (call for quote) 2) Credit Report approx. $55.
3) Discount points (prevailing) 3) Amortization Schedule approx. $25.00.
4) Amortization Schedule approx. $25.00. 4) Appraisal fee - $300.00
    Survey - Approx. $300.00.
5) Real Estate Commission 5) Interest - day of closing to end of current month
6) Pay off existing loan(s) 6) First year of hazard insurance and flood (if applies)
7) Termite report approx. $60.00 (VA only)
7) Form 9 endorsement 10% of title insurance & Alta 8.1
8) Tax proration to date of closing 8) Simulataneous/Mrtg. title Insurance $25.00
9) Final inspection (if applies) approx. $75.00 9) Escrows: MPI, hazard insurance, flood (if applies), taxes (depending on time of yr.)
10) Recording fee - Satisfaction of Mrtg. - $18.50* 10) Recording Fees: Deed - $18.50*
       Mrtg. - approx. $215.00
       Doc. Stamps on note - $3.50 per $1000.00,
       intangible tax $2.00 per $1000.00 of Mrtg.
11) Fed Ex/Courier fees $25.00 - $100.00
       Copy/storage $25.00 - $65.00
 
 

 

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