Guide To Closing Costs
An Overview of the Fees and Expenses Involved in the Home Buying and Selling Process
Buying or selling a home can be a complex process, and understanding the various closing costs involved is a crucial part of the process. Closing costs are fees and expenses that are incurred during the home buying and selling process, including escrow fee, title insurance, county transfer tax, and more. In this guide, we'll take an in-depth look at the various closing costs involved and provide you with the information you need to make informed decisions. Whether you're a buyer or a seller, this guide will help you get a better understanding of the costs involved and what you can expect when closing a real estate transaction.
| Seller | Buyer | |
|---|---|---|
| Escrow Fee (Base) | $350.00 BASE + $2.50/$1,000.00 OF SALES PRICE | $350.00 BASE + $2.50/$1,000.00 OF SALES PRICE |
| EDOC FEE (LOAN TIE-IN) FOR FINANCED TRANSACTIONS | $350.00 | |
| DOCUMENT PREPARATION1 | $200.00 | $150.00 |
| TITLE INSURANCE2 | OWNERS POLICY BASED ON TITLE CHART (BASED ON SALES PRICE) | LENDERS POLICY BASED ON TITLE CHART (BASED ON LOAN AMOUNT) |
| COUNTY TRANSFER TAX | $1.10/$1,000 OF SALES PRICE3 | |
| RECORDING/SUB-ESCROW FEES | $100.00 | $200.00 |
| TERMITE INSPECTION | $95.00 + REPAIRS AS NEGOTIATED | |
| HOME WARRANTY | $400.00 | |
| NHD | $133.50 | |
| HOA DOCUMENT/TRANSFER FEE | $400.00-$500.00 | |
| INSURANCE PREMIUM | AS PER INVOICE PRESENTED (OBTAIN QUOTE FROM INS. AGENT) | |
| LOAN FEES | AS NEGOTIATED WITH LENDER | |
| RETROFIT (CITY OF LOS ANGELES) | $250.00 + REPAIRS AS NEGOTIATED | |
| MISC (WIRE, MESSENGER, ETC.) | $50.00 AS APPLICABLE | $100.00 AS APPLICABLE |
- Including but not limited to payoff demands, quitclaim deeds, power of attorneys, digital archive fees
- Refer to a title chart provided by your favorite title representative for accurate charges
- Transfer tax for properties located within the city limits of Los Angeles is $5.60/$1,000.00 of the sales price
Disclaimer
Please note that this closing cost table is only an estimate based on typical and standard practices. The actual charges can vary and be subject to negotiation between the buyer and seller, as outlined in the signed purchase agreement. To get a precise calculation, we recommend contacting Pathway Escrow with your transaction details. Our team will be more than happy to help you.
