The Brights are buying a home from the Stones. They are splitting the escrow service fees 50-50. Do they live in Northern or Southern California?

Question

Jazmin Mays

Business

20 October, 08:11

The Brights are buying a home from the Stones. They are splitting the escrow service fees 50-50. Do they live in Northern or Southern California?

+5

Answers (1)

Know the Answer?

Dangelo Costa · Answer 1

They live in Southern California.

In Northern California the buyer usually pays the escrow service fees.

Explanation:

As a rule, escrow services price between 1 and 2 percent of a house price for property transactions. In certain cases, the escrow fees may be calculated at $2 per mil of buy price plus $250, depending on the firm.

Similarly, who ends up paying the insurance in California varies depending on the county in which your property is located. The buyer occasionally pays, the vendor sometimes pays. This can be divided 50/50 in other instances. The policy applies to the buyer, how often the retailer pays for it or not.

Sellers have to pay the documents transfer tax at the closing of the escrow in Northern California. The payment is valued at $1.10 per selling price of 1000 dollars. The seller's side of the escrow also includes recording charges, liability, and appraisals.