Closing Costs - Who Pays What? Contra Costa County

Dated: 08/21/2019

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Who pays what in closing costs?

Every county has their own rules as to who is going to pay what in closing costs, buyer or seller. The items listed below are for Contra Costa County and Alameda County as this is where I concentrate of activities.

Closing Costs Breakdown:

  • Escrow Fee – buyer pays
  • Title Fees – buyer pays (owner’s title policy)
  • County Transfer Tax – Seller pays with the exception of the City of Alameda buyer and seller split 50/50. The transfer tax is figured at $1.10 per $1000 of the sales price. As an example, the sales price is $500,000, the Transfer Tax will be $550.
  • City Transfer Tax -The only city in Contra Costa County is Richmond with a City Tax at $7.00 per $1000. the buyer and seller split 50/50. For Alameda County there are several cities with a tax; Alameda, Albany, Berkeley, Hayward, Oakland, Piedmont and San Leandro buyer and seller split.
  • Real Estate Agent Fees – seller pays

Other standard costs over and above the closing costs:

  • Real estate taxes are paid thru the day of closing by the seller
  • HOA fees seller pays thru the day of closing and either the buyer or seller pays for the required HOA documents. This will be specified in the contract
  • If a home warranty is included either buyer or seller can pay as noted in the contract.
  • Buyers putting down less than 20 per cent will be required to open an impound account.  Your mortgage payment will include principal, interest, taxes and insurance. Because the lender is paying the taxes and insurance, there has to be enough money in the impound account to cover these costs. Fourteen months of home owner’s insurance and several months of taxes which is based on the month of the closing.

If you are curious about who pays what in closing costs in the other counties in Northern California,  you can download this PDF document as a reference.

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Linda Urbick

I believe that owning a home is what most folks want. Your first home may not be your dream home, it is a start. And it's not just an investment. To some it is security, to others it's pride of owners....

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