Your Pioneer Title Agency Escrow Officer will explain your Settlement Statement following his or her receipt of the lender’s package. That said, this is a general guide to who pays what.

Seller can generally expect to pay:

  • Owner’s title insurance policy premium
  • Real estate commission
  • 1/2 of the escrow fee
  • Any loan charges required by Buyer’s lender, if specified in the purchase contract
  • Loan payoff,  plus interest charges including but not limited to statement, reconveyance and/or prepayment fees.
  • Any repair work, specified in the purchase contract
  • Home Warranty, if specified in the purchase contract
  • Any encumbrance of record against the seller
  • Recording charges to clear all documents of record against the seller
  • Prorated property taxes and/or delinquent taxes to date of close
  • Unpaid HOA dues or assessments
  • HOA transfer fee, if specified
  • HOA Disclosure Statement

Buyer can generally expect to pay:

  • Lender’s title insurance policy premium
  • 1/2 of the escrow fee
  • All new lender charges except those required by lender for seller to pay
  • Recording charges
  • Interest on new loan
  • Hazard insurance premium
  • Property tax impounds as required by new lender
  • Advance HOA management payments (if applicable)

Note: FHA, VA, and other specialty loans may have specific fee stipulations.

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