Page 18 - Homeowners Manual - San Antonio, Texas

EXPLANATION OF ESTIMATED SELLER’S CLOSING COSTS

Below are brief definitions of terminology that may be related to your real estate transaction�

Broker’s Commission
An amount paid to a real estate broker or real estate professional for services performed regarding the sale or
purchase of real property�

Escrow Fee/Settlment Fee
A fee charged for escrow services performed during the purchase, refinance or sale of real property�

Home Warranty
A residential service contract for costs associated with the repair and/or replacement of major home systems
and appliances that occurs due to normal wear and deterioration� Major home systems and appliances may
include such items as heating and cooling or plumbing and electricity� Specific service coverages, limitations
and exclusions are based on the terms and conditions set forth by the service contract�

Payoff Demand Fee
A fee, charged by some but not all lenders, for preparation and issuance of a payoff quote listing the amount
required to pay off any existing mortgage loan, which will also include any interest owed up and until the day the
loan is paid in full�

Pest Inspection Fee
The cost of retaining a registered Structural Pest Control Company to inspect a property for any wood
destroying pests�

Reconveyance Fee
The fee for filing real property reconveyance documentation with the county recorder’s office�

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