Over the years, I have received offers from buyers' agents on Santa Clara County properties that included unusual terms. The closing costs established by custom can be flexible, but in most cases, local Realtors know that in our county, the seller pays title and escrow fees, and "across the border" in San Mateo County, the buyer is expected to cover these costs.
The poor buyers selling in San Jose and buying in San Mateo can be hit by a double whammy, whereas someone selling a house in Belmont and buying in Sunnyvale makes out like a bandit regarding closing costs.
If an agent doesn't know these area guidelines, he or she can cost the buyer a premium in escrow. For instance, a San Francisco broker once handed me an offer that had his buyer paying all the closing costs on a house in Cupertino...perfectly legal, but an unexpected bonus for the seller, just because the agent didn't do his homework.
Cornerstone Title recently sent out an updated information sheet of the customary expenses in all the Northern California Counties that my readers should find interesting.
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