The numerous expenses which buyers and sellers normally incur to complete a transaction
in the transfer of ownership of real estate. These costs are in addition to price of the
property and are items prepaid at the closing day. This is a typical list:
BUYER'S EXPENSES
|
SELLER'S EXPENSES
|
Documentary Stamps on Notes |
Cost of Abstract |
Recording Deed and Mortgage |
Documentary Stamps on Deed |
Escrow Fees |
Real Estate Commission |
Attorney's Fee |
Recording Mortgage |
Title Insurance |
Survey Charge |
Appraisal and Inspection |
Escrow Fees |
Survey Charge |
Attorney's Fee |
The agreement of sale negotiated previously between the buyer and the seller may state
in writing who will pay each of the above costs. |
