Often the question is, Who pays the closing cost when buying a home? 

Typically sellers are responsible for the real estate agent’s commission, title, doc stamps, and prorated taxes.

Buyers will pay for their portion of closing cost aside from the down payment. The best way to get an estimate of your portion of the closing cost is to get it from your lender. Also, keep in mind that there are several expenses that will be paid outside of closing (POC). These costs include a Home Inspection which typically ranges from $350-$450 could be more depending on the size of the home. Another expense will be the cost of the Appraisal. The appraiser will need to be paid for before they come out to appraise the home. They range around $450 as well. 

Review the closing cost below to become aware of the cost and what they consist of. It is always best to discuss the lender’s portion of fees with your lender. Any other questions about the fees are something that your Realtor should review with you at a Home Buyer’s Consultation. Any questions feel free to drop me a note. I will be happy to help with any information. 

 

 

 

 

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.