WORKSHEET
Track Closing Costs
Be prepared and know who’s responsible for the variety of fees and expenses at the closing table.
| BUYER COST | SELLER COST | OTHER | |
| Down payment | |||
| Loan origination | |||
| Points paid to receive a lower interest rate | |||
| Home inspection | |||
| Appraisal | |||
| Credit report | |||
| Mortgage insurance premium | |||
| Escrow for homeowner’s insurance (if paid as part of the mortgage*) |
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| Property tax escrow
(if paid as part of the mortgage*) |
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| Deed recording | |||
| Title insurance policy premiums | |||
| Land survey | |||
| Notary fees | |||
| Home Warranty | |||
| Proration** for your share of costs
(such as utility bills and property taxes) |
*Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.
** Because such costs are usually paid on either a monthly or a yearly basis, you might have to pay a bill for services used by the sellers before they moved. Proration is a way to even out bills sellers may have paid in advance, or that you may later pay for services they used.