The Buying or Selling Process
The Home Selling Process - Moving Towards Settlement
Closing costs for the seller may include:
-
Attorney’s fees (preparation of the deed, settlement fee, and any release fees)
-
Broker’s commission
-
State deed transfer tax or recordation fee
-
Condominium or homeowners association packet fees, if applicable
-
Water escrow (to reduce, bring canceled check and last bill; amount prorated at settlement)
-
Termite inspection
-
Mortgage pay-off penalty (see deed of trust note)
Taxes and homeowner's association dues or condominium fees will be prorated on a daily basis. The seller, buyer, and brokers are supplied a copy of settlement sheets for their records. The house keys are transferred to the new owners.
Typically the attorney or title company will disburse funds the day of settlement.
The house has now been sold, settled, and funds disbursed.
