Closing Costs

You’ll have closing costs associated with your purchase. Some are paid during the loan application (if financing) & inspection period, and some are paid at closing.

We generally advise to budget 3-4.5% of your purchase price for closing costs, in addition to agent compensation (often but not always paid by the seller). Here’s a general breakdown of what to expect – but know that things can shift! If you are financing, your lender will be able to provide you with the most accurate information.

Paid During the Application and Inspection Period

  • Inspection: $500+

  • Loan Processing Fee: $150

  • Appraisal: $500

Paid at Closing

  • Loan Origination: $1,500

  • Tax Service Fee: $75

  • Condominium Document Fee (If Applicable): $0 – $500

  • Attorney Fee: $600 – $1,000

  • Title Fees: $3,500 – $4,000

  • Recording Fee: $200

  • Transfer Tax Stamps: Varies by city

  • Daily Interest: (Loan Amount x Rate)/365

  • Escrow Taxes: 1 – 5 months (if applicable)

  • Escrow Insurance: 1 – 5 months (if applicable)

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