During a Maui real estate transaction, both the buyer and seller will have some expenses. Who pays what? These are some of the additional costs that you may not have known about. Below is a simple guide for what the buyer and seller pay, based on what is standard and customary for Maui, but keep in mind, any of these can be negotiated:
Typically, the Buyer Costs Include:
- 40% of title insurance
- Cost to draft mortgage note
- Buyer notary fees
- Recording fees
- 50% of escrow fees
- Transfer fees
- Condo association fees
- FHA or VA Discount points depending on the loan type
- Appraisal
- Home inspection
- Possibly pest inspection
The Seller Costs Include:
- 60% of title insurance
- Cost to draft the bill of sale
- Cost to obtain buyer consent
- Seller notary fees
- Survey/staking
- 50% of escrow fees
- Conveyance tax
- HARPTA and FIRPTA if applicable
- Possibly the pest inspection (The pest inspection can be negotiated either way for the buyer or seller to pay for it)
Want to Know More?
If you have questions or would like to go more into detail about any of these items, please reach out and I would love to be your Maui guide and resource.
I also have answered many frequently asked questions about Maui Real Estate on my Youtube Channel.
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