In a nutshell:
Once in contract, you will get an up to date, property specific, line item breakdown of closing costs to be paid by the buyer and seller. Prior to that, you will find an estimation of closing costs on any Property Detail page on Open Listings, located just below the map.
Closing costs can include the following:
- Any loan processing and lender fees
- Title and escrow company charges
- Local recording fees
- Inspections and appraisals
- Property insurance and taxes
What to know:
Closing costs are generally split by the Buyer and Seller, but this can be negotiated and will ultimately depend on the particular property and seller.
Do note that our closing cost estimations are based on the current industry trend of approximately 1.5% to 2% of the total purchase price and more accurately reflects the closing costs you would pay if you plan to finance the home; if you plan to pay cash, you can expect the closing costs to be lower as they would not include any of the loan processing fees associated with a financed offer.