Settlement - Who Pays What?

During the negotiation stage of the transaction, a mutually agreed-upon date for closing is determined. "Closing" is when you and the seller sign all the paperwork and pay your share of the settlement fees, and the documents are recorded. Settlement obligations vary widely due to specific contract language, local laws and customs. Prior to closing, the closing agent will complete a detailed settlement statement for both buyer and seller. We can help you understand which of the following typical settlement fees apply to you.

The buyer pays:

• One-half of the escrow fee paid to the escrow company for preparing the closing
• Document preparation fees
• Recording and notary fees
• Title Insurance
• Local transfer taxes, if any
• Loan fees
• Appraisal fees
• Credit report fees