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Who Pays For What??

To help you understand what expenses are involved in your real estate transaction, and what expenses you will incur, you can use the following as a 'template'.  Remember that each transaction is different, and that every item on this list may not apply to your particular situation, use it as a guideline only.

Item Buyer Seller
Down Payment X
Deposit X
Discount Points X
Origination Fee X
Loan Application Fee X
Appraisal Fee Either Either
Survey Fee Either Either
Attorney Fee Both Both
Title Search/Abstract Either Either
Recording Fee Both Both
Lenders Title Insurance X
Owners Title Insurance X
Home Warranty Plan Either Either
Real Estate Commission Either Either
Home Inspection X If Pre-Inspected Seller Pays
VA Funding Fee* X
Homeowners Insurance X
Pre-Paid Taxes/Insurance X
Well/Septic/Water Inspections Either Either
Pro-Rated Property Taxes


Wisconsin Transfer Fee

Note (*) The VA Funding Fee can actually be paid up front by either the Buyer or the Seller or the Buyer may "roll" the fee into the loan amount and pay it back over the life of the mortgage.


As you know, property taxes have become an integral part of home ownership.  Specifically, property taxes must be paid in order to effect a transfer of ownership.  The property taxes will be pro-rated to the day before closing, and a credit will be giving to the buyer from the seller at closing for that portion of the year that the seller owned the property.  The buyer will receive the tax bill at the end of the year, and will be responsible for the entire amount.