Who Pays What In San Mateo County?

All counties have customs with regard to who pays what fees in a real estate transaction.   (Another reason it’s important to have a realtor who specializes in your area of interest.)  So what are they in San Mateo?

San Mateo County transfer tax on every real estate sale of $1.10 per thousand dollars, which the seller typically pays.

Buyers are responsible for the escrow and title fees, and their loan fees.

The cities of Hillsborough and San Mateo have city transfer taxes.  The seller pays for Hillsborough’s and San Mateo’s is split between the parties.  Having said that, I just wrote an offer for a buyer who paid all the fees – yes, all of them.  Remember, these are standards.  If you want your offer to be better than the next guy’s you may want to consider paying those extras.  And you thought the market crashed and burned and lay in ruins.

Other expenses that fall to the responsibility of the seller is the installation of smoke detectors, strapping the water heater and the $130 for the hazard report that’s required in every sale.

Buyers should set aside roughly $1000 for inspections.  That’s a high estimate, but sometimes inspections lead to more inspections and you’re better off with an over-estimate.  And yes, you should get inspections. :)  

add to del.icio.us : Add to Blinkslist : add to furl : Digg it : add to ma.gnolia : Stumble It! : add to simpy : seed the vine : : : TailRank : post to facebook

Vicki Moore About Vicki Moore

RE/MAX Star Properties
282 Redwood Shores Parkway
Redwood Shores, CA 94065

By Phone:

Speak Your Mind