Yes, who pays what is based on custom. Here in WA, the buyer also pays for the appraisal, which makes sense to me, because it is the buyer's bank (assuming the purchase is financed) has it in their interests to have an appraisal done. The title fee and title insur are split here though, under local custom. However, many times the seller will agree to pay those costs in order to close the sale. A surprising amount of time in my area the seller will pay for ALL the buyer's fees, including the buyer's loan origination fee, loan discount fee (if any), and lender's reserves for property taxes, fire insurance, etc. But when this happens, the seller usually just makes sure the selling price is raised enough to cover these costs. Usually these instances are because of VA loan rules, which prohibit the buyer from paying many of those type of costs, like loan discount fees.
That's probably more than anyone cared to hear. |
