CUSTOMARY BREAKDOWN OF CLOSING COSTS

The following are the customary breakdown of closing costs, unless otherwise negotiated in the purchase contract differently.  Theseexpenses are not intended to be all-inclusive.

EXPENSES CHARGED TO BUYER

• 40% of the premium for standard coverage title insurance and any additional costs relating to the issuance of extended coverage policy (including lender's policy)
• Cost of drafting of mortgage and note or agreement of sale
• Cost of obtaining Buyer's consents
• Buyer's notary fees
• All recording fees excelpt to clear Seller's title
• 50% of Escrow fee
• Condominium and Association ownership transfer fees
• FHA or VA discount points and any mortgage fees

EXPENSES CHARGED TO SELLER

• 60% of the premium for standard coverage title insurance
• Cost of drafting of conveyance documents and bills of sale
• 50% of Escrow fee
• Seller's notary fees
• Cost of required staking or survey
• Recording fees to clear Seller's title
• FHA or VA mandatory closing fees
• Conveyance tax (subject to Paragraph F7 of Purchase Contract)
• FIRPTA (Federal withholding tax)
• HARPTA (State withholding tax)