- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What closing costs (and bank fees) are tax deductible when you sell and when you buy a home and get a mortgage
For a SELLER, I am looking at:
Property Taxes paid by seller from 1st of year to closing date
Commissions to realtors
Title charges such as Lender's Coverage, Owners Title Insurance, Settlement or closing fee, E-Recording Service Fee, Reconveyance Tracking Fee, Express delivery service fee
Government Charges such as Road Maintenance Agreement
For a BUYER, I am looking at:
Property Taxes paid by buyer (rare)
Commissions to realtors (usually by seller)
Bank charges: Doc Fee to law firm
Points (Origination Fees)
Escrow payments
Closing costs: such as Closing Fee, Closing Protection Letter Fee, Doc Prep Fee, Endorsements to Title agency, Lender's Title Insurance to Title Company, Loan Tie-in Fee, Recording Service Fee, Signing fee paid by buyer
Government Charges: Recording Fees to Title Agency
Homeowner's Insurance Premium