Phoenix Arizona Closing Cost Guide

The SELLER can generally  expect to pay for:  

•     Owner’s title insurance premiums

•     Real estate commission

•     1/2 of the escrow fee (except VA)*

•     Any loan fees required by buyer’s lender (according to contract)

•     Payoff of all loans

•     Interest accrued to lender being paid off, statement fees, re-conveyance fees and any prepayment penalties

•     Termite work (according to contract)

•     Home warranty (according to contract)

•     Any judgments, tax liens, etc. against the seller

•     Recording charges to clear all documents of record against seller

•     Tax pro-ration (for any taxes unpaid at time of transfer of title)

•     Any unpaid homeowners’ association dues

•     Any bonds or assessments (According to  contract)

•     Homeowners’ Association Transfer fee and disclosure fee (according to HOA addendum)

•     Any and all delinquent taxes

*   On VA loans, the entire escrow fee must be paid by the Seller.

The BUYER can generally expect to pay for:

•     Lenders title policy premiums

•     1/2 of the escrow fee (except VA)*

•     Document preparation (if applicable)

•     Notary fees (if applicable)

•     Recording charges for all documents In buyers’ names

•     Homeowners’ association transfer fee

•     All new loan charges (except those required by lender for seller to pay)

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

•     Home warranty (according to contract)

•     Fire insurance premium for first year

•     All pre-paids

•     Two Months of Homeowners’ Association dues up front

**   This list is not necessarily all- inclusive and all the services for which payment may be allowable  or non-allowable may not be identified.