Buyer

ü  Loan origination fee

ü  Appraisal

ü  Credit report

ü  Tax registration (seller paid if VA)

ü  Flood certificate (seller paid if VA)

ü  Interest of balance of month closing

ü  Hazard insurance (first year’s premium)

ü  Prorated taxes

ü  Document preparation fee

ü  Title insurance (for the bank)

ü  Recording fees

ü  Escrow fees (one half) (seller pays both halves if VA)

If applicable:

ü  Mortgage insurance premium

ü  Lender’s inspection fee

ü  Assignment fee

ü  Reserves for taxes, hazard insurance, PMI, and home owner’s dues

Seller

ü  Pay off existing mortgage(s)

ü  Real estate commission

ü  Pay off leased fixtures

ü  Prorated taxes

ü  Escrow fee (one half)

ü  Title insurance (for buyer)

ü  Excise tax