Complete Buyers' Guide

Closing Fees
There are numerous fees associated with closing on the purchase of a property. Some of the fees are:

Inspection fees
These are paid directly by the buyer to various inspectors/engineers.

Mortgage charges:

• Credit report - $25
• Documentation prep - $50
• Processing fee - $200
• Postage and handling - $20
• Private Mortgage Insurance 2 months in advance - $300-$500 based on size of loan.
• Accumulated interest - based on loan and day of month of closing.

Title search/insurance
60/40 split between seller and buyer. Usually between $500-$1,000, depending on complexity of search and title clearance needs. Plus Notary fees.

Property Tax prorations*
Taxes are billed semi annually on Maui. The taxes will be prorated and buyer will be responsible for prepaid taxes.

*Property taxes on Maui are calculated according to owner occupancy vs. non-owner occupancy. Non owner occupants pay $5.07 per $1000 of assessed value. Owner occupants pay $3.41 per $1000 on the assessed value less $50,000.

Proration of various income/fees
As appropriate. (Condominium maintenance or contingency fees, subdivision assessment fees, association dues, water fees, rental income, etc.)

Conveyance tax
Paid by buyer. 1% of purchase price.

Escrow fee
Split 50/50 between buyer and seller. Usually about $250 to $750 depending on complexity of closing process.

Deed and mortgage recording fees
$150-$300.