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Seller Responsibilities
The seller can generally be expected to pay for:
- Real Estate Commission
- Document preparation fee for Deed
- Documentary transfer tax ($1.10 per $1,000.00 of sales price)
- Payoff of all loans in seller's name (or existing loan balance
if being assumed
by buyer)
- Interest accrued to lender being paid off, Statement Fees,
Reconveyance
- Fees and any prepayment penalties.
- Termite inspection (according to contract)
- Termite Work (according to contract)
- Any judgments, tax liens, etc., against the seller.
- Tax proration (for any taxes unpaid at time of transfer of
title)
- Any unpaid Homeowners dues
- Recording charges to clear all documents of record against
seller
- Any bonds or assessments (according to contract)
- Any and all delinquent taxes
- Notary Fees
- Escrow Fee (one half)
- Title Insurance Premium for Owner's Policy
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