Understanding Closing Costs: Who Pays What?

Transparency and financial clarity.

The “Sale Price” isn’t the final number you see at the closing table. Both buyers and sellers have “closing costs”—the fees paid to finalize the real estate transaction.

• For the Buyer: You can expect to pay 2% to 5% of the home’s purchase price. This includes loan origination fees, home inspections, appraisals, and “pre-paids” like property taxes and homeowners insurance.
• For the Seller: The largest cost is usually the brokerage commission, followed by transfer taxes, title insurance, and any remaining mortgage balance or property tax prorations.
• The “Negotiation” Factor: In some markets, a buyer can ask a seller to pay a portion of their closing costs (known as “Seller Concessions”). This is a great way for buyers to keep more cash in their pockets for furniture and repairs.
• The Closing Disclosure (CD): You will receive this document three days before closing. Review it line-by-line with your agent to ensure there are no surprises.

Financial surprises are the last thing you want. We provide our clients with a “Net Sheet” early in the process so you know exactly what to expect.in prehenderit in voludptate velit esse cillum toret eu giat enderit in volptate velit esse cillum maecenas.