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 | |||
Property tax escrow
(if paid as part of the mortgage*) |
|||
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 yearly basis, the buyers may have to pay a bill for services that you actually used before moving, or vice versa. Proration is a way to even out bills you may have paid in advance, or that buyers may later pay for services you used.