settlement

You are here: Resource Center > Real Estate > Buy / Sell > Buying > Buyer Agency

Settlement


	Who Pays What

	During the negotiation state 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 (usually an escrow or title company or attorney) 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 will receive:*


	Earnest money deposit


	*The buyer pays:*

One-half of escrow or legal fees paid to the attorney or escrow company for preparing the closing (In California, the party paying escrow fees varies from county to county)

Document preparation fees

Recording and notary fees

Title search and title insurance (paid by either the seller or the buyer

Local transfer taxes, if any

Repairs or inspections the buyer has agreed to pay

Loan fees

Appraisal fees

Credit report fees




	Created by Agent Support Center, Copyright © 1999-Present Windermere Real Estate. Links to other Internet sites are provided as a convenience only. There are no representations about linked sites; providing a link does not mean that this is an endorsement or approved site or that Windermere Real Estate accepts any responsibility for these sites’ content or use.