Guide to Closing Costs

Understanding how much it costs to buy or sell a home can be a challenge. Often the price of the property dictates several of these costs, but if you know your home-buying or selling budget, you can get a general idea of your costs by using the guide below.

Note – this is a general overview. In some cases, the buyer pays costs that are usually covered by the seller and vice versa. Escrow will prepare a much more-detailed analysis once the Purchase and Sale Agreement is accepted by both parties.

SELLER USUALLY PAYSBUYER USUALLY PAYS
Real Estate CompensationFees associated with getting the loan - application, prepaid interest, points, credit report, recording fee, etc
Half of Escrow*Half of Escrow*
Title Report Fee* Lender's Title Insurance Policy*
Unpaid Property TaxesPro-rated property taxes from closing date
Unpaid UtilitiesPro-rated utilities already paid
Unpaid HOA DuesPro-rated propane or fuel alredy paid
Unpaid HOA AssessmentsPro-rated HOA dues already paid
Any outstnding liens and judgementsAppraisal fee
Excise Tax**Homeowners Insurance

* Escrow and Title companies charge different rates, some based on a percentage of the purchase price while others charge a fee.

**Excise Tax for both King and Snohomish Counties are calculated as follows:

Up to $500,0001.60%
$500,001-$1,500,0001.78%
$1,500,001-$3,000,0003.25%
$3,000,0013.5%