Closing the Deal: Decoding Property Costs for Buyers and Sellers in Los Angeles and Beverly Hills.

🔑📋 When it comes to buying a house in Los Angeles or Beverly Hills, it's important to understand the various settlement fees 💲involved. From taxes to escrow and more, here are some key fees to keep in mind. 💰💼

💼💵 Taxes need to be prorated in escrow, with the seller paying their portion up until the closing and the buyer taking over from there. Additionally, there are escrow fees, loan fees, and HOA processing fees to consider. 🏦💸

🏠🤝 Sellers, on the other hand, may have additional fees such as commissions, transfer taxes, HOA transfer fees, ULA tax, and the mansion tax if the property exceeds $5 million in Los Angeles 🏙️. It's essential to be aware of these fees when navigating the real estate market in LA and Beverly Hills. 💼🏡

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