As a new Buyer of property in San Diego, CA you may be budgeting for the purchase of your home. Closing costs are a necessary part of the equation. This list will give you an idea of what is typically included. The Buyer and Seller may negotiate "Who Pays What", but once the contract is signed instructions cannot be changed unless mutually agreed upon by all parties in writing.
Real Estate Commission:
If the property is listed or sold by an agent there will be a commission to calculate.
Taxes:
The Seller is required to pay the taxes through the last day of ownership.
Homeowner Insurance:
The Buyer of property in San Diego,CA will purchase a fire and hazard insurance policy.
Assessments and Liens:
Assessments and liens against individuals and/or the property must be paid off before the close of escrow. The Title company will normally show much of this information in the (PR) Preliminary Report and the escrow officer will work with the appropriate parties to clear up any problems so that escrow may close.
Escrow Fees and Title Insurance:
The Seller or Buyer can pay the Title Insurance fee that is referred to as the Owner's policy. The owner's policy covers the new owner's interest and "title" to the new property. The Buyer of property in San Diego,CA typically pays for the "Lender Policy" that will cover the new lender's interest in the "title" to the property. Escrow fees are usually split 50/50 between the Buyer and Seller.
Inspections and Other Fees:
Attorney fees
Loan Fees
Notary
NHD (Natural Hazard Disclosure eports)
Pest Inspection and Correction Costs
Courier/Delivery
Document Preparation
Deed Recording
Home Warranty
Tax Service Fees
Specific amounts of fees can vary, but your agent can run a Net Sheet to give the Buyer of property in San Diego, CA a pretty good summary of what to expect.
Contact me for all your real estate needs.
Deborah A. Stone, Realtor Integrity-Solutions-Results-
Hogue and Belong Realty-Bankers Hill
San Diego, CA
"Representing clients with the experience of an investor"
