Buyer’s Financial Responsibilities

Purchasing Your Home: Costs and Fees

There are various costs and fees involved in purchasing a home. The following list depicts an example of the costs you may need to cover. Keep in mind that responsibility for some of these charges can be negotiable and the responsible party may vary from area to area. Ask your real estate agent about applicable costs in your area.

  • Title insurance premium (according to contract)
  • Escrow fees (according to contract)
  • Document preparation (if applicable)
  • Notary fees
  • Recording charges for all documents in buyer’s names
  • Termite inspection (according to contract)
  • Tax proration (from date of acquisition)
  • Homeowner’s transfer fee
  • All new loan charges (except those required by lender for seller to pay)
  • Interest on new loan from date of funding to 30 days prior to first payment date
  • Assumption/change of records fees for takeover of existing loan (if applicable)
  • Beneficiary statement fee for assumption of existing loan
  • Inspection fees (roofing, property inspection, geological, etc.)
  • Home warranty (according to contract)
  • City transfer/conveyance tax (according to contract)
  • Fire insurance premium for first year