images.jpg

Taxes and Fees on a Real Estate Sale

 

These are the customary charges in Santa Clara County. Note that almost all charges are negotiable and will be specified in the Purchase Agreement.

 

Buyer's Charges

  • Lenders Title Insurance Policy

  • 50% City Transfer Tax: Cities of San Jose, Palo Alto & Mt. View $3.30 per $1,000 of sales price. (City taxes are usually split 50/50 between buyer and seller)

  • Recording Fees: Deed and Deed of Trust

  • Notary Fees

  • Drawing Fees: Deed, Private Notes & Deeds of Trust

  • Lenders Fees: May include loan origination fee, appraisal fee, credit report, tax service fee, prepaid interest, processing fee, document prep fee

  • First Year Fire Insurance Premium

  • Termite Inspection

  • Roof Inspection

  • Property Inspection

  • Proration of Real Estate Taxes

 

Seller's Charges

  • Owners Title Insurance Policy

  • Documentary Transfer Tax: County $1.00 per $1,000 of sales price. Cities of San Jose, Palo Alto & Mt. View $3.30 per $1,000 of sales price. (City taxes are usually split 50/50 between buyer and seller)

  • Escrow Fee

  • Proration of Real Estate Taxes

  • Drawing Fees

  • Notary Fees

  • Recording Fees: Reconveyance

  • Real Estate Commission

  • Home Warranty Contract

  • Environmental/Geological Reports

  • Termite Repairs

  • Payoff of Existing Loans: Principal balance, interest, statement fee, reconveyance fee

 

Who Pays For What

 

Each city dictates on who pays for what and how much. Please check out the table below to see the customary costs for both buyer and seller in each city.

Table of California Closing Costs for Local Counties

Capture.PNG