What are the typical real estate closing costs, and who pays for them?
When people are preparing to buy a home, they often forget to budget for potentially thousands of dollars worth of closing costs. These costs are the various fees that buyers and sellers pay at the closing table. They can include—but aren’t limited to—escrow fees, title fees, loan origination fees, transfer taxes, prepaid homeowner fees, and more. Typically, closing fees amount to around 2.5% of the home’s purchase price.
Whether you’re looking to buy or sell, don’t be surprised when these fees come up at the last minute. A great lender and Realtor will ensure that you are fully prepared ahead of time.
If you’d like a more detailed list of the typical closing costs and how much you’ll be expected to pay for each, don’t hesitate to give us a call or send us an email. We’d love to help you.
