Summary of Closing Costs

Although who pays for various closing costs is negotiable between the buyer and seller, the following is the customary division in San Francisco County.

The SELLER customarily pays:

• Real estate commission
• Document preparation for deed
• Documentary transfer tax (amount is dependent upon sales price)
• Payoff of all loans against the property
• Interest accrued on loans being paid off, reconveyance fees and pre-payment penalties
• Home warranty (if specified in contract)
• Any judgment or tax liens against seller
• Property tax proration
• Unpaid homeowner’s dues (for condominiums)
• Bonds or assessments
• Delinquent taxes
• Move-out fees (for condominiums)
• Notary fees and recordation fees
• Third party Natural Hazard Disclosure Statement & California Tax Disclosure Report
• Pre-sale pest inspection fee
• Underground storage tank report
• Energy & water conservation inspections & recording
• Miscellaneous charges

The BUYER customarily pays:

• Title insurance premium for lender and buyer
• Escrow fee
• Notary fees
• Contractor’s and pest inspection fees
• All new loan charges (points, appraisal, document processing fees, etc.)
• Interest on new loan from date of funding to 30 days prior to the 1st payment date
• Home warranty (if specified in contract)
• Homeowner’s insurance for 1st year
• Earthquake insurance (optional)
• Private mortgage insurance (typically 2 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 fee (for condominiums)
• HOA account transfer fee
• Miscellaneous charges

(This list is a general guideline of charges and may not be wholly inclusive for your transaction.)

Closing costs are the various charges made by the lender, the title company, real estate agents and other service