A Guide to Estimating Closing Costs in Alameda County Including Piedmont, Oakland and Berkeley

 

Buyer Generally Pays For

 

• Title insurance policy premiums

• Escrow fee

• Notary fee

• Property tax proration (from date of acquisition)

• Special delivery/courier fees

• Document recording charges

• Homeowners’ association transfer fee and prorata dues

• City transfer tax (typically split with Seller, varies by city, 1.2 - 2.5% of sales price)

• Home Warranty according to contract

• Inspection fees according to contract (termite, roof, property, geological, etc.)

• Matters of record against the buyer (tax liens, judgements, etc.) and fees required to clear them

• Fire insurance premium for first year

• Assumption/change of record fee, for takeover of existing loan

• Lender’s new loan charges

• Interest on new loan from date of funding to 30 days prior to first payment date

• Other prorations (rents’ insurance, etc.) if applicable

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Seller Generally Pays For

 

• Real Estate Commission

• Document transfer tax ($1.10 per $1,000 of sales price)

• Notary fees

• Property tax proration (to date of acquisition)

• Special delivery/courier fees, if required

• Document preparation fees

• Document recording charges

• Homeowners’ association statement fee and prorata dues

• City transfer tax (typically split with Buyer, varies by city, 1.2 - 2.5% of sales price)

• Home Warranty according to contract

• Work/repairs required according to contract

• Matters of record against the property or seller (loans, tax liens, judgements, etc.) and fees required to clear them (statement fees, reconveyance/trustee fees and prepayment penalties)

• Bonds and assessments according to contract