SELLER can generally be expected to pay Seller's Estimated Closing Cost --------------------------------------------------------- Total Sale Price = $500,000.00 ------------------------------------------------------------------------------------------------------------------------------------ REAL ESTATE COMMISSIONS Listing Agent 3 % $15,000.00 Selling Agent 3 % $15,000.00 1100 ESCROW , TITLE CHARGES: 1101 Closing or Escrow Fee: see below, Difference between Refi/Purchase. $ 1105 Document Preparation Fee $75.00 1106 Notary Fees $60.00 1107 Attorney Fees - 1108 Title Insurance: see below. Difference between Refi/Purchase. $ 1110 Courier/Fedex $60.00 1111 Wire Transfer Fee $50.00 1200 GOVERNMENT RECORDING & TRANSFER CHARGES: 1201 Recording Fees: (varies from county to county) $60.00 1202 City Transfer Tax : see below. Difference between Refi/Purchase. $ 1203 County Transfer Tax : see below. Difference between Refi/Purchase. $ 1300 ADDITIONAL SETTLEMENT CHARGES: Pest Inspection according to contract $- Home inspection according to contract $250.00 Termite Inspection according to contract $250.00 Home Warranty according to contract $300.00 Work / Repairs required according to contract $- Bonds / Assessments according to contract $- HOA transfer and fees $- TOTAL SELLER'S ESTIMATED CLOSING COST $31,105.00 Note : 1101 Closing or Escrow Fee: * if this is a sale transaction, refer to Residential Sale Escrow Rate, based on Sale Price - Santa Clara county : Seller pays - Alameda county : Buyer pays * if this is a refinance, refer to Residential Loan Escrow Rate, based on Loan Amount. Borrower pays. 1108 Title Insurance: * if this is a sale transaction, refer to Homeowner's Policy Rate, based on Sale Price - Santa Clara county : Seller pays - Alameda county : Buyer pays and may include 1109 ALTA Concurrent loan policy: refer to ALTA Concurrent Loan Policy Rate. Buyer always pays. Seller does not pay. 1109 * if this is a refinance, 1108 is 1109 , refer to ALTA Loan Policy Rate, based on Loan Amount. Borrower pays. 1202 City Transfer Tax : Apply for sale transaction only, not for refinance. 50/50 . City Specific - SanJose $3.30 per $1000 'Alameda $5.40 per $1000, ' Hayward $4.50 per $1000, ' Berkley/Oakland $15 per $1000,' Palo Alto $3.30 per $1000 *Sacto $2.75 per $1000, ' San Mateo $5.0 per $1000, ' county Santa Cruz, Monterey No such fee, *County San Francisco [$100,000 - $250,000] $5 per $1000 [$250,001 - $1M] $6.8 per $1000 [above $1M ] $7.50 per $1000 1203 County Transfer Tax : Apply for sale transaction only, not for refinance. Pays $1.10 per $1000 - Santa Clara county : Seller pays - Alameda county : Buyer pays 901 Interest = Loan Amount x Rate (5%) for 1 year ; for 1 month divide this result by 360 903 Hazard Insurance Premium: Loan Amount x 0.0035 for 1 year . For 1 month , (Loan Amount x 0.0035)/12 904 Tax and Assessment : Sale price (or appraised value) x 0.0125 for 1 year. For 1 month , use this result then divide by 12 Above is just an estimated closing cost for seller. Best Regards, Caroline Tran & The PURITY Group DRE# 01334109 Vice President, CFO – The PURITY Real Estate Investment and Finance, Inc. (408) 595 – 6416, (408) 904 - 7030 CarolineTran@thePURITYgroup.com |
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