Escrow and Title Fees

Escrow and Title expenses are typically shared 50%/50% by Buyer and Seller in the Tahoe region.

Closing customs, the process of who pays what during a real estate transaction, varies by region. In the Truckee Tahoe area, we have two counties – Nevada and Placer. Title and escrow fees are generally shared equally between buyer and seller. The following outlines standard closing expenses by County:

NEVADA COUNTY:
Recording Fees for Deed Paid By: Buyer
Recording Fees for Deeds of Trust Paid By: Buyer
Title Insurance Policy for Buyer Shared: 50%/50%
Escrow Fees Shared: 50%/50%
County Transfer Tax Paid By Seller: $1.10 per $1,000
City Transfer Tax: Not applicable
Private Transfer Fees (if applicable) Paid By: Buyer in most cases

PLACER COUNTY:
Recording Fees for Deed Paid By: Buyer
Recording Fees for Deeds of Trust Paid By: Buyer
Title Insurance Policy for Buyer Shared By: Seller or Split
Escrow Fees Shared: 50%/50%
County Transfer Tax Paid By Seller: $.55 per $500
City Transfer Tax: Not applicable
Private Transfer Fees (if applicable) Paid By: Buyer in most cases

Here are other purchase transaction related costs to remember:

Property Inspections Paid By: Buyer
Property Re-inspections Paid By: Buyer
Natural Hazard Disclosures Paid By: Seller
Contractually Negotiated Repairs Paid By: Seller
Purchase “Credits” Paid By: Seller
Prorations (Taxes, HOA Dues) Paid By: Seller
Property Liens Paid By: Seller

If the property you are buying or selling is a bank owned foreclosure or a short sale, some of the above noted expenses may vary and are subject to the situation at hand and bank negotiations.

Alison, the Elder Group Tahoe escrow professional and your title officer will guide you through the process so you clearly understand “who pays what”. Please contact Alison with questions.