Estimated Closing Costs

A Guide to Closing Costs in Los Angeles County

Buyer Generally Pays For

* Title insurance policy premiums
* Escrow fee
* Notary fee
* Property tax proration (from date of acquisition)
* Special delivery/courier fees
* Document recording charges
* Homeowners’ association transfer fee and prorata dues
* Home Warranty according to contract
* Inspection fees according to contract (general, foundation, sewer line, roof, geological, etc.)
* Matters of record against the buyer (tax liens, judgements, etc.) and fees required to clear them
* Fire insurance premium for first year
* Assumption/change of record fee, for takeover of existing loan
* Lender’s new loan charges
* Interest on new loan from date of funding to 30 days prior to first payment date
* Other prorations (rents’ insurance, etc.) if applicable

Seller Generally Pays For

* Real Estate Commission
* County transfer tax ($1.10 per $1,000 of sales price)
* City transfer tax ($4.50 per $1,000 of sales price) City of LA only
* Notary fees
* Property tax proration (to date of acquisition)
* Special delivery/courier fees, if required
* Document preparation fees
* Document recording charges
* Homeowners’ association statement fee and prorata dues
* City Report (City of LA, Pasadena)
* Home Warranty according to contract
* Work/repairs required according to contract
* Matters of record against the property or seller (loans, tax liens, judgements, etc.) and fees required to clear them (statement fees, reconveyance/trustee fees and prepayment penalties)
* Bonds and assessments according to contract