Buying or selling a home is a major financial decision, and understanding the associated costs is crucial. While the purchase price is the most significant expense, there are many other fees and expenses that add up during the transaction. This blog post will break down the traditional distribution of expenses in a real estate transaction, clarifying who typically pays for what.
Buyer's Expenses
Buyers typically bear the responsibility for a wide range of expenses, including:
Seller's Expenses
Sellers typically pay for a different set of expenses, including:
Understanding the distribution of expenses in a real estate transaction is essential for both buyers and sellers. While this guide provides a general overview of who typically pays what, it's important to remember that the specific details can vary depending on the terms of the purchase agreement, local laws, and lender requirements. Consult with your real estate agent and legal counsel to ensure you fully understand the financial obligations associated with your real estate transaction.
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