Potential Closing Items
Below is a description of who customarily pays residential loan’s closing costs. Each individual transaction will vary depending upon the circumstances.
| Cash | FHA | VA | Convention | |
| Down Payment | Buyer | Buyer | Buyer | Buyer |
| Termite Inspection | Buyer | Buyer | Buyer | Buyer |
| Property Inspection | Buyer | Buyer | Buyer | Buyer |
| Property Repairs, if any (negotiable) | Seller | Seller | Seller | Seller |
| New Loan Origination Fee (negotiable) | Buyer | Buyer | Buyer | |
| Document Preparation Fee * Loan Package | Buyer | Buyer | Buyer | |
| Document Preparation Fee – Warranty Deed | Seller | Seller | Seller | Seller |
| Credit Report | Buyer | Buyer | Buyer | |
| Appraisal or Extension Fee (negotiable) | Buyer | Buyer | Buyer | |
| Existing Loan Payoff | Seller | Seller | Seller | Seller |
| Existing Loan Payoff Demand | Seller | Seller | Seller | Seller |
| Prepaid Interest (approximately 30 days) | Buyer | Buyer | Buyer | |
| FHA,MIP, VA Funding Fee, PMI Premium | Buyer |
Buyer | Buyer | |
| Property Taxes | Prorate | Prorate | Prorate | Prorate |
| Tax Impounds | Buyer | Buyer | Buyer | |
| Tax Service Contract | Buyer | Buyer | Buyer | |
| Fire / Hazard Insurance | Buyer | Buyer | Buyer | |
| Flood Insurance | Buyer | Buyer | Buyer | |
| Homeowners Association (HOA) Transfer Fee (negotiable) | Buyer | Buyer | Buyer | Buyer |
| HOA Statement of Accounts | Seller | Seller | Seller | Seller |
| Delinquent HOA Assessments | Seller | Seller | Seller | Seller |
| Delinquent Property Taxes | Seller | Seller | Seller | Seller |
| Home Warranty Premium (negotiable) | Seller | Seller | Seller | Seller |
| Realtors Commissions | Seller | Seller | Seller | Seller |
| Owners Title Policy (negotiable) | Seller | Seller | Seller | Seller |
| Lender’s Title Policy and Endorsements | Buyer | Buyer | Buyer | |
| Escrow Fee | Split | Split | Seller | Split |
| Recording Fees (flat rate) | Split | Split | Split | Split |
| Courier / Express Mail Fee | Split | Split | Seller | Split |