The sections of the HUD1 that can be added to your basis if the cost is charged to the Seller are the following sections:
- 700. Total Real Estate Brokerage Fees
- 800. Items Payable in Connection with Loan
- 1100. Title Charges
- 1200. Government Recording and Transfer Charges (includes 1201 through 1206)
- 1300 Additional Settlement Charges
@ HelenC12 h@HelenC12 Provided the following list. I have added for you which section these costs might be located on the HUD1:
- Abstract fees (abstract of title fees) - 1100 Title Charges;
- Charges for installing utility services - 1300 Additional Settlement Charges;
- Legal fees (including title search and preparation of the sales contract and deed) 1100 Title Charges;
- Recording fees - Government Recording and Transfer Charges;
- Surveys - either Items Payable in Connection with the Loan; Title Charges or Additional Settlement Charges;
- Transfer taxes - Government Recording and Transfer Charges;
- Owner's title insurance - Title Charges
