Buyer Book - The Ramsey Team

CLOSING COSTS: WHO PAYS WHAT This chart indicates who customarily pays what costs

TYPE OF FINANCING

VA

CONV

CASH

FHA

BUYER

BUYER

BUYER SELLER BUYER SELLER BUYER BUYER BUYER BUYER SELLER SELLER SELLER BUYER BUYER

BUYER

1. Downpayment

2. Termite (Wood Infestation) Inspection (negotiable except on VA )

BUYER SELLER

BUYER SELLER BUYER BUYER BUYER BUYER SELLER SELLER SELLER BUYER BUYER

BUYER SELLER BUYER BUYER BUYER BUYER SELLER SELLER SELLER BUYER BUYER

3. Property Inspection (if requested by Buyer) 4. Property Repairs, if any (negotiable) 5. New Loan Origination Fee (negotiable)

6. Discount Points (negotiable)

7. Credit Report

8. Appraisal or Extension Fee (negotiable)

SELLER SELLER SELLER

9. Existing Loan Payoff

10. Existing Loan Payoff Demand 11. Loan Prepayment Penalty (if any) 12. Next Month’s PITI Payment 13. Prepaid Interest (approx. 30 days)

PRORATE

PRORATE

PRORATE

14. Reserve Account Balance (Credit Seller / Charge Buyer) 15. FHA MIP, VA Funding Fee, PMI Premium 16. Assessments payoff or proration (sewer, paving, etc.)

BUYER

BUYER

BUYER

SELLER

PRORATE

PRORATE

PRORATE

PRORATE

17. Taxes

BUYER SELLER BUYER BUYER

BUYER SELLER BUYER BUYER

BUYER BUYER BUYER BUYER

18. Tax Impounds

19. Tax Service Contract 20. Fire/Hazard Insurance

BUYER

21. Flood Insurance

BUYER OR SELLER

BUYER OR SELLER

BUYER OR SELLER

BUYER OR SELLER

22. Homeowners Association (HOA) Transfer Fee (negotiable)

SELLER

SELLER

SELLER

SELLER

23. HOA/Disclosure Fee 24. Current HOA Payment 25. Next Month’s HOA Payment

PRORATE

PRORATE

PRORATE

PRORATE

BUYER

BUYER

BUYER

BUYER

BUYER OR SELLER

BUYER OR SELLER

BUYER OR SELLER

BUYER OR SELLER

26. Home Warranty Premium (negotiable)

SELLER SELLER

SELLER SELLER BUYER

SELLER SELLER BUYER SELLER

SELLER SELLER BUYER

27. REALTORS®’ Commissions 28. Homeowners Title Policy

29. Lenders Title Policy and Endorsements 30. Escrow Fee (NOTE: Charge Seller on VA Loan)

SPLIT SPLIT

SPLIT SPLIT

SPLIT SPLIT

SPLIT

31. Recording Fees (Flat Rate)

SELLER

SELLER

SELLER SELLER

SELLER

32. Reconveyance/Satisfaction Fee 33. Courier/Express Mail Fees

SPLIT

SPLIT

SPLIT

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