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Who Pays The Closing Fees? {Finance}

Posted by Susanna Haynie on March 30, 2013
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Closing Costs Who pays all of these fees_


There are so many charges in a real estate transaction and it’s mostly because there are so many parties involved: lenders, title company, real estate agents, seller/buyers, your county (taxes), insurance, water. It can be a challenge to keep an eye on them and sometimes your settlement statement is a little surprising when you have all those charges in front of you.

To familiarize you with some of the charges that might be coming to you as a buyer or seller, I used an information sheet from Empire Title, Colorado Springs, Co .  Not all closing fees will actually be charged (depending on loan and transaction), and who pays them is negotiable most of the time. The mentioned fees might vary from state to state.

==> Why a pre-approval from a local lender makes you a powerful buyer.

Loan Type                                                                                                                                              

                                                                         VA                    FHA                  CONV

Owner Title Policy Seller Seller Seller
Mortgage Policy $125 Buyer Buyer Buyer
Endorsement 100 $50 Buyer Buyer Buyer
Endorsement 8.1 $50 Buyer Buyer Buyer
Tax Certificate $25 B or S Buyer Buyer
Doc Fee $.10 per $1000 Buyer Buyer Buyer
Closing Fee Real Estate $190 Seller 50/50 50/50
Closing Fee New Loan $210 Seller Buyer Buyer
Short Sale Closing Fee $200 Seller Seller Seller
Recording Fees $10/pg + $1/doc
–Warranty Deed Buyer Buyer Buyer
–Deed of Trust Seller Seller Seller
–Release of old Deed of Trust $30 Seller Seller Seller
Loan Origination Fee Buyer Buyer Buyer
Discount Points Negotiable Negotiable Negotiable
VA Funding Fee Buyer N/A N/A
FHA Mortgage Insurance N/A Buyer N/A
Private Mortgage Insurance N/A N/A Buyer
Tax Service Fee Seller Seller Buyer
Credit Report Buyer Buyer Buyer
Appraisal Buyer Buyer Buyer
ILC/Survey Buyer Buyer Buyer
Amortization schedule Buyer Buyer Buyer
Final Inspection Seller Buyer Buyer
Insurance -1st yr premium Buyer Buyer Buyer
–Insurance Buyer Buyer Buyer
–Taxes Buyer Buyer Buyer
–FHA &PMI N/A Buyer Buyer
Prepaid Interest Buyer Buyer Buyer
Doc Prep Fee for Lender Seller Buyer Buyer
Underwriting Fee for Lender Seller Buyer Buyer
Annual Taxes Seller Seller Seller
Commissions Seller Seller Seller
Wire Processing $25 Seller Seller Seller
Courier Fee Payoff $25 Seller Seller Seller
Courier Fee Loan Package $25 Seller Buyer Buyer
Local Courier Processing Fee $15 Seller Buyer or Seller Buyer or Seller
E recording Mailing and
Processing Fee $10 Buyer Buyer Buyer

The above items are customary; some items are negotiable per contract. Courtesy of Empire Title, Colorado Springs, Co

Questions? Email (susanna@co-regroup.com), call or text (719-321-0800) or click the picture below to schedule a free 30 minute Q&A call:

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