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
– Documentary Stamps on Notes
– Recording Deed and Mortgage
– Escrow Fees
– Attorney’s Fee
– Title Insurance
– Appraisal and Inspection
– Survey Charge
Seller’s Expenses
– Cost of Abstract
– Documentary Stamps on Deed
– Real Estate Commission
– Recording Mortgage
– Survey Charge
– Escrow Fees
– 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.
