WORKSHEET

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.