What Do Buyers Generally Pay?

Who pays for the various closing costs is negotiable between the Buyer and Seller. The below, however, sets forth the customary division in San Francisco County. (These items might not apply in other counties as some counties split their title and escrow fees between Buyer and Seller in varying manners.)

  • Title Insurance Premiums
  • Escrow fee
  • City transfer/conveyance tax (according to contract)
  • Termite/pest inspection (according to contract)
  • Inspection fees (for example, roof, property inspection, geological)
  • Tax proration (from date of acquisition)
  • Homeowner’s transfer fee
  • All new loan charges (except those required by lender for Seller to pay)
  • Interest on new loan from date of funding to 30 days prior to first payment
  • Assumption/change of records fees for takeover of existing loan
  • Beneficiary statement fee for assumption of existing loan
  • Fire insurance premium for first year
  • Homeowners insurance for first year
  • Earthquake insurance (optional)
  • Private mortgage insurance (typically two months) if required by lender
  • Private mortgage insurance impound account (1 year) if required by lender
  • Property tax impound account if required by lender
  • Move-in fees (for condominiums)
  • Notary fees and recording charges for all documents in Buyer’s name
  • Courier fees

Sellers Generally Pay…

  • Real estate commission
  • Document preparation fee for deed
  • Documents transfer tax ($1.10 per $1,000 of sales price)
  • City transfer/conveyance tax (according to contract)
  • Any loan fees required by Buyer’s lender
  • Payoff of all loans in Sellers’ name (or existing loan balance if being assumed by Buyer)
  • Interest accrued to lender being paid off
  • Statement fees, reconveyance fees and any loan prepayment penalties
  • Pre-sale pest/termite inspection and work (according to contract)
  • Third-party natural hazard disclosure statement
  • Underground storage tank report (as applicable)
  • Home warranty (according to contract)
  • Any judgements, tax liens, against the Seller and recording charges to clear all documents of record against Seller
  • Property tax proration (for any unpaid taxes up to time of transfer of title)
  • Any unpaid homeowner’s dues
  • Homeowner’s association document fee
  • Any bonds or assessments (according to contract)
  • Any and all delinquent taxes
  • Move-out fees (for condominiums)
  • Notary fees and recording charges
  • Courier fees