Arizona’s Real Estate Closing Costs for Buyer and Seller

Arizona’s Buyers and Sellers frequently ask members of our team what can I expect to pay in Closing Costs?

We break it down for you below. You are lucky you are closing on a home here in Arizona where closing costs are considerably low and there are no Lawyer fees to pay. Watch our 3 minute video to learn why…

 

What the Buyer can expect to pay in closing costs:

  • Down payment
  • Title Insurance Premium for Lender’s Policy
  • Appraisal Fee
  • Credit Report
  • Inspection Fees (roofing, property inspection, geological, termite, etc.)
  • Loan Origination Fee
  • Points paid to lower interest rate (if applicable)
  • Escrow Fee (1/2)
  • Document Preparation
  • Notary Fees
  • Recordation Fees
  • Tax proration (from date of acquisition)
  • Homeowners 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 takeover of existing loan.
  • Inspection Fees (roofing, property inspection, geological, termite, etc.)
  • City Transfer/Conveyance Tax (according to contract)
  • Hazard Insurance Premium for first year
  • impounds and interest on new loan
  • Fire insurance premium for first year
  • Home warranty
  • Private Mortgage Insurance (PMI, if applicable)
  • Hazard Insurance Premium for first year

What the Seller can expect to pay in closing costs:

  • Real Estate Commission
  • Document preparation fee for Deed
  • 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.
  • Any judgments, tax liens, etc., against the seller.
  • Tax pro-ration (for any taxes unpaid at time of transfer of title)
  • Any unpaid Homeowners dues
  • Any bonds or assessments (according to contract)
  • Any and all delinquent taxes

 

Arizonas Real Estate Closing Costs for Buyer and Seller

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