BEST Title Solutions - Buyers/Sellers

Distribution of Closing Costs:
For the Buyer:
  1. Financing:
    1. Appraisal
    2. Credit Report
    3. Lender Charges
    4. Mortgage Broker Charges
    5. Prepaid Interest, if any
    6. Prepaid Escrows for Taxes and Insurance


  2. Mortgagee's Title Insurance Policy and Endorsements required by the Lender

  3. Documentary Stamps @ $.35 per $100.00 on the mortgage amount

  4. Intangible Tax @ .002 times the mortgage amount

  5. Recording of the Deed and Mortgage

  6. Conditional Filing

  7. Pest Inspection, Survey, Water Test (if required by the Lender)

  8. Insurance Premiums

  9. Garbage Pro-ration

  10. Closing Fee

For the Seller:
  1. Owner's Policy of Title Insurance and affiliated charges for closing, search and title examination

  2. State Transfer Tax @ $.70 per $100 of the sales price

  3. Payoff of any existing liens: Mortgages, Judgment Liens, Federal Tax Liens, etc.

  4. Lender's charges on FHA and VA new loans as required by regulation

  5. Shipping and Handling, as required for each individual transaction

  6. Recording Fees for Satisfactions and Releases

  7. Prepayment penalties, if applicable

  8. Repairs, if any, required in the contract

  9. Special Assessments and Taxes

  10. Real Estate Commission

  11. Tax Pro-ration
© 2005 Best Title Solutions, Inc.