Closing Costs: Who Pays What

Dated: February 19 2019

Views: 248

This chart indicates who usually pays what closing costs. Closing costs aren't set in stone and not all the costs listed below apply to every transaction. You and your Realtor/Broker should discuss the closing costs that relate to your specific real estate transaction.

 

TYPE OF FINANCING

CASH

FHA

VA

CONV

1. Downpayment

BUYER

BUYER

BUYER

BUYER

2. Termite (Wood Infestation) Inspection
(negotiable except on VA)

  

SELLER

 

3. Property Inspection (if requested by Buyer)

BUYER

BUYER

BUYER

BUYER

4. Property Repairs, If Any (negotiable)

SELLER

SELLER

SELLER

SELLER

5. New Loan Origination Fee (negotiable)

 

BUYER

BUYER

BUYER

6. Discount Points (negotiable)

 

BUYER

BUYER

BUYER

7. Credit Report

 

BUYER

BUYER

BUYER

8. Appraisal or Extension Fee (negotiable)

 

BUYER

BUYER

BUYER

9. Existing Loan Payoff

SELLER

SELLER

SELLER

SELLER

10. Existing Loan Payoff Demand

SELLER

SELLER

SELLER

SELLER

11. Loan Prepayment Penalty, If Any

SELLER

SELLER

SELLER

SELLER

12. Next Month’s PITI Payment

 

BUYER

BUYER

BUYER

13. Prepaid Interest (approx. 30 days)

 

BUYER

BUYER

BUYER

14. FHA MIP, VA Funding Fee, PMI Premium

 

BUYER

BUYER

BUYER

15. Assessments Payoff or Proration
(sewer, paving, etc.) (ne

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Lauren Adair

Being a Realtor isn't just how Lauren makes a living, it's also how she lives. She's a real estate owner and investor. Lauren has bought, sold and remodeled many properties of her own. As a Realtor, s....

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