Settlement Guide

Local Industry Standards
The following charts reflect local industry standards. All costs are negotiable according to the Purchase and Sales Agreement.

 Download Printable Copy

Conventional Loan
 
Buyer
Seller
Shared Equally
Appraisal Fee*
X
X
 
Commission
 
X
 
Escrow Fee
 
 
X
Fire Insurance
X
 
 
Lender's Policy
X
 
 
Owner's Policy
 
X
 
Reconveyance Fee
 
X
 
Recording Fee
X
X
 

* Can be paid by either buyer or seller.
Refer to the Purchase and Sales Agreement.

VA Loan
 
Buyer
Seller
Shared Equally
Appraisal Fee**
X
X
 
Document Fee*
 
X
 
Escrow Fee (100%)*
 
X
 
Fire Insurance
X
 
 
Lender's Policy
X
 
 
Owner's Policy
 
X
 
Reconveyance Fee
 
X
 
Recording Fee
X
X
 
Tax Service Fee*
X
X
 

* Veterans cannot pay these costs.
** Can be paid by either party in the transaction.
Refer to the Purchase and Sales Agreement.

Assumption
 
Buyer
Seller
Shared Equally
Assumption Fee*
X
X
 
Escrow Fee
 
 
X
Fire Insurance
X
 
 
Interest Prorate
 
X
 
Recording Fee
X
 
 
Reimburse Impound Account
X
 
 

* Can be paid by either buyer or seller.
Refer to the Purchase and Sales Agreement.

FHA Loan
 
Buyer
Seller
Shared Equally
Appraisal Fee**
X
X
 
Commission
 
X
 
Escrow Fee
 
 
X
Fire Insurance
X
 
 
Lender's Policy
X
 
 
Owner's Policy
 
X
 
Reconveyance Fee
 
X
 
Recording Fee
X
X
 
Tax Service Fee*
 
X
 

* Buyer cannot pay these costs.
** Can be paid by either buyer or seller.
Refer to the Purchase and Sales Agreement.

IHA Loan - VA or FHA Conventional
All VA, FHA, and Conventional rules apply
VA Loan
See VA Loan Section
FHA
See FHA Loan Section
Conventional Loan
See Conventional Loan Section