You saved the deposit. Now here is the bill nobody warned you about.
Closing costs typically run two to five percent of the purchase price, on top of your down payment, due at the end, in cash. On a $1.35 million Orange County home that is somewhere between $27,000 and $67,500.
Where does it go? Escrow, title and recording. Lender fees, the appraisal, the inspection. Prepaid property taxes, the first year of insurance, HOA transfer fees. Most of it is not the agent, and almost none of it is optional.
Who pays what varies by county and by custom, and a good deal of it is negotiable between buyer and seller. Custom is not law. Ask every time, and in a slower market ask harder.
Get a written estimate before you write an offer. Being short at the closing table is how good deals die at the last minute.
The short version
- On a $1.35M home that is $27,000 to $67,500.
- Due at the end, in cash.
- Escrow, title and recording.
- Lender fees, appraisal and inspection.
- Prepaid taxes, insurance and HOA transfer.
- Most of it is not the agent, and none of it is optional.
- Custom is not law. Ask, every single time.
Talk it through with Kini
Kini will run it with you on your real budget, anywhere in Orange, Los Angeles, Riverside or San Bernardino County. No charge and no pitch.
Book a consultation or call or text (323) 320-1725. See the closing cost and down payment help you may qualify for.