B u y e r   A g e n c y   i n   S i l i c o n   V a l l e y  "Agents For The Homebuyer"

Closing Costs

 Customary closing costs vary slightly from county to county. I will address here Santa Clara County customary closing costs since that is where I do the majority of my business. For closing costs in nearby counties, leave me a message and I will arrange for you to get the information.  In Santa Clara County there is a rule of thumb that will allow you to do a rough calculation to get your approximate customary closing costs. This is:

For Santa Clara County Buyers, 2% of the purchase price plus points and PMI.
In Alameda, Santa Cruz and San Mateo Counties it is 2.5% plus points and PMI.
For Santa Clara County Sellers, 2.5% of the sales price plus commission.
In Alameda and San Mateo Counties it is 2.0% of the sales price plus commission.

Here are most of the details:

County Transfer Tax                                                   -Seller-
City Transfer Tax                              50% Buyer       50% Seller
Appraisal Fee                                   -Buyer-
Home Warranty                                                           -Seller-
Credit Report                                    -Buyer-
Policy of Title Insurance                                               -Seller-
Alta Policy of Title Insurance             -Buyer-
Preliminary Title Report                                               -Seller-
Drawing Buyers Papers, Notary      -Buyer-
Drawing Sellers Papers, Notary                                  -Seller-
Recording, Tax Service Fee            -Buyer-
Escrow Fee                                                                  -Seller-
Loan Origination Fee (Points)           -Buyer-
Reconveyance Fee                                                      -Seller-
Lenders Document Preparation Fee       -Buyer-
Forwarding and/or Trustees Fees                                -Seller-
Misc. Lender Fees, Appraisal Review    -Buyer-
Discount Points on New FHA or VA Loan                     -Seller-
Private Mortgage Insurance (PMI)         -Buyer-
FHA Insurance Premium                                               -Seller-
Prepaid Interest                                 -Buyer-
Geological & Flood Report                                           -Seller-
Impound Account                              -Buyer-
Prepayment Penalty                                                     -Seller-
Homeowners Association Doc. Fees     -Buyer-
Brokerage Commission                                                -Seller-
Structural Pest Control Inspection     -Buyer-
Structural Pest Control Repairs        -Buyer Section 2    -Seller Section 1
Property Home Inspection               -Buyer-
Plumbing Leaks, Broken Glass                                    -Seller-
System Repairs, ex: Electrical                                     -Seller-
Roof Inspection                                -Buyer-
Roof Repairs                                                               -Seller-
Pool Inspection                                -Buyer-
Pool Repairs                                                               -Seller-
Property Taxes                         Prorated as of Close of Escrow
Fire Insurance                                -Buyer-
Homeowners Dues                   Prorated as of Close of Escrow
Rents                                        Prorated as of Close of Escrow
Interest on Assumed Loan(s)    Prorated as of Close of Escrow
 

back to Index Page