Find out what the buyer pays for and what the seller pays for in an escrow. If you are buying or selling a home in the South Bay, it's important to know the costs involved. Find current South Bay homes for sale, Realtors®, and current home values in Southern California's South Bay. Find real estate listings with our free home search and South Bay MLS access, open houses, real estate agents, and our South Bay Brokers listings. Our free real estate services feature all South Bay cities and neighborhoods including Manhattan Beach, Hermosa Beach, Redondo Beach, Torrance, El Segundo, Hollywood Riviera, Hawthorne, Hollyglen, and Palos Verdes.  
 
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Who Pays For What?

Items the Seller can generally be expected to pay for:

  • Real Estate commission
  • Escrow fees
  • County documentary transfer tax (55 cents per $500 of consideration, exclusive of the value of any
    lien or encumbrances attaching to the property at time of sale)
  • Applicable city transfer/conveyance tax according to contract)
  • Document preparation fee for deed
  • Any loan fees required by buyer’s lender
  • Payoff of all loans in seller’s name (or existing loan balance if being assumed by buyer)
  • Interest accrued to lender being paid off. Statement fees, reconveyance fees and any prepayment
    penalties
  • Termite inspection (according to contract)
  • Termite work (according to contract)
  • Home warranty (according to contract)
  • Any judgments, tax liens, etc., against the seller
  • Tax proration (for any taxes unpaid at time of transfer of title)
  • Any unpaid homeowner’s dues
  • Recording charges to clear all documents of record against seller
  • Any bonds or assessments (according to contract)
  • Any and all delinquent taxes
  • Notary fees – escrow fee
  • Title insurance premium: Owner’s policy
    Note: Although this is the traditional distribution of expenses associated with a sale, many items may be negotiated between the parties at the time of the offer, notwithstanding certain expenses required by the lender to be paid by seller.

The Buyer can generally be expected to pay for:

• Escrow fees
• Document preparation (if applicable)
• Notary fees
• Recording charges for all documents in buyer’s name
• Termite inspection (according to contract)
• Tax proration (from date of acquisition)
• Homeowner’s 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
• Assumption/Change of Records fees for take-over of existing loan
• Beneficiary Statement fee for assumption of existing loan
• Inspection fees (roofing, property inspection, geological, etc.)
• Home Warranty (according to contract)
• Lender’s title policy
• Fire insurance premium for first year

Who Pays For What . . .
1640 So. Pacific Coast Hwy.
Redondo Beach, CA 90277
(310) 375-0583
(310) 375-9616 Fax
2501 No. Sepulveda Blvd., 2nd Floor
Manhattan Beach, CA 90266
(310) 546-7611
(310) 545-0515 Fax

 
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