Tuesday, September 21, 2010

Checklist of Seller's Closing Costs and Credits

For anyone thinking of selling their home, there will be a lot of moving parts in the selling process. One of those parts will be your estimated seller closing costs. This is something your Realtor can assist you with in conjunction with the local escrow/title company.

Following is an overview of potential seller closing costs that any seller should be aware of and prepared for:

Costs:
__ Realtor commissions
__ Title insurance (where payable by sellers)
__ Escrow fee (where applicable)
__ Survey fee (where applicable)
__ Legal fee (where applicable)
__ Abstract of Title
__ Prepayment penalty, if any
__ City, County transfer tax
__ Pest control inspection fee, in the case of a VA loan
__ Pest control remediation, if any
__ Recording fee
__ FHA or VA points, if any
__ Notary fee
__ Prorated taxes (if not paid to date of recordation)
__ Interest, if paid in arrears (from date of last payment to date of recordation)
__ Prorated rents, if any
__ Security deposits on hand, if any

Credits:
__ Interest, if paid in advance (from recordation to date of next loan payment)
__ Prorated taxes (if paid beyond recordation)

For assistance with questions on likely seller closing costs, please contact me at 760-934-5088.

For information on Mammoth Lakes real estate, please log onto my real estate website at www.easternsierraproperties.com

Thank you for your time and consideration!

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