Worksheet: Track Closing Costs

Be prepared and know who’s responsible for the variety of fees and expenses at the closing table.
 

	BUYER COST	SELLER COST	OTHER
Down payment
Loan origination
Points paid to receive a lower interest rate
Home inspection
Appraisal
Credit report
Mortgage insurance premium
Escrow for homeowner’s insurance
Property tax escrow (if paid as part of the mortgage*)
Deed recording
Title insurance policy premiums
Land survey
Notary fees
Home warranty
Proration* for your share of costs (such as utility bills and property taxes)

 

*Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.

** Because such costs are usually paid on either a monthly or yearly basis, the buyers may have to pay a bill for services that you actually used before moving, or vice versa. Proration is a way to even out bills you may have paid in advance, or that buyers may later pay for services you used.