We may pay a portion of reasonable and customary closing costs, including: commission, real estate property taxes, transfer taxes and stamps, and title and settlement charges. Other fees should be limited to costs that are required to be paid for transfer of title, such as mechanic's or property tax liens.
Closing costs we may pay:
- Real estate sales commission customary for the market, which must not exceed 6% of the sales price of the property
- Real estate taxes and other assessments prorated to the date of closing
- Local and state transfer taxes and stamps
- Title and settlement charges
- Attorney fees for settlement services typically provided by a title or escrow company
- Homeowners association fees that are past due
- Buyer closing costs
- Any amounts authorized by the lender/servicer
Closing costs we will not pay:
- Fees paid to a third party to negotiate the sale of the property
- Real estate sales commission paid to your client or the buyer of the property
- Buyer's discount points or mortgage loan origination costs