Understanding closing costs is crucial when buying or selling a home. These costs vary significantly by state and can impact your net proceeds or total purchase price. This comprehensive guide breaks down closing costs by state for 2025.
Seller Closing Costs by State
| State | Transfer Tax | Recording Fee | Title Insurance | Avg Total Seller Costs* |
|---|---|---|---|---|
| Texas | None | $50-150 | $1,200-2,500 | 1-3% |
| Missouri | $0.50/$500 | $50-100 | $800-1,800 | 1-2.5% |
| Oklahoma | None | $50-100 | $700-1,500 | 1-2% |
| Tennessee | $0.37/$100 | $50-150 | $900-2,000 | 1.5-3% |
| North Carolina | $2/$1,000 | $50-100 | $1,000-2,200 | 1.5-3% |
| South Carolina | $1.85/$500 | $50-100 | $800-1,900 | 1.5-3% |
*As percentage of sale price. Does not include realtor commissions (typically 5-6%).
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Buyer Closing Costs by State
| State | Loan Origination | Appraisal | Inspection | Avg Total Buyer Costs* |
|---|---|---|---|---|
| Texas | 0.5-1% | $400-600 | $300-500 | 2-5% |
| Missouri | 0.5-1% | $350-550 | $300-450 | 2-5% |
| Oklahoma | 0.5-1% | $350-550 | $300-450 | 2-5% |
| Tennessee | 0.5-1% | $400-600 | $300-500 | 2-5% |
| North Carolina | 0.5-1% | $400-600 | $300-500 | 2-5% |
| South Carolina | 0.5-1% | $400-600 | $300-500 | 2-5% |
*As percentage of purchase price. Cash buyers typically have lower closing costs (1-2%).
Common Closing Cost Components
Seller Costs
- Realtor Commission: 5-6% of sale price (typically split between buyer and seller agents)
- Transfer Taxes: Vary by state and locality
- Title Insurance: Protects buyer, often paid by seller
- Recording Fees: $50-200 typically
- Escrow Fees: $500-1,500
- Property Taxes: Prorated to closing date
- HOA Fees: Prorated if applicable
- Home Warranty: Optional, $300-600
Buyer Costs
- Loan Origination: 0.5-1% of loan amount
- Appraisal: $300-600
- Home Inspection: $300-500
- Title Insurance: $500-2,000
- Recording Fees: $50-200
- Escrow Fees: $500-1,500
- Prepaid Items: Property taxes, insurance, interest
Cash Buyer Closing Costs
Cash buyers typically have significantly lower closing costs (1-2% vs 2-5% for financed buyers) because they avoid:
- Loan origination fees
- Appraisal fees (often waived)
- Mortgage insurance
- Some lender-required inspections
Additional Resources
For more information about real estate closing costs and fees, visit these authoritative sources:
- National Association of Realtors - Industry data and statistics
- Consumer Financial Protection Bureau - Consumer protection and financial information
- HUD (Housing and Urban Development) - Government housing programs and information
Want to Avoid High Closing Costs?
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