Whether you are buying or selling a home in Santa Clara County, you should be aware of what fees is paid by which party. Note that the fees I have listed below vary by county to county and is negotiable by contract. These are not an all inclusive list, but I have tried to include the most common items.

Fees generally paid by seller:

• Real estate commission
• Document transfer tax ($1.10 per $1000.00 of sales price)
• Any city transfer or conveyance tax
• Owner’s title insurance premium
• Escrow Fee
• Tax proration (for any unpaid taxes at the time of transfer of title)
• Recording charges to clear all documents of record to the seller
• Any delinquent taxes, judgments, liens against the seller

Fees generally paid by the buyer:

• Lenders title insurance premium
• Notary Fees
• Recording charges for all documents in buyer’s name
• Tax proration from the date of acquisition
• Interest on new loan from date of funding to 30 day prior to first payment date
• Hazard Insurance premium for first year
• County preliminary change of ownership fee

If you are looking to buy or sell in Santa Clara county and have any questions pertaining to the process or need a referral for a real estate agent, email me at shashank@arcuslending.com. To remain updated on the real estate/mortgage market you can follow me on Twitter.