What Are Closing Costs — and Who Pays Them?...
Closing costs are the fees paid at the closing table—the day a home officially changes hands. They’re separate from the purchase price and cover items like lender fees (if financing), appraisal/underwriting, title work and title insurance, escrow setup, county recording fees, and property tax adjustments.
Who pays what? Buyers typically cover most loan-related costs (appraisal, credit report, lender/title fees, escrow setup, recording). In many cases, buyer closing costs run about 2%–4% of the purchase price, depending on the loan and terms. Sellers typically pay real estate commissions, title/transfer-related fees (when applicable), prorated taxes, and any agreed-upon buyer credits—often higher because commission is included.
Good news: closing costs can be negotiated. Sellers may contribute to buyer costs, buyers can negotiate credits after inspections, and some loan programs allow different credit structures. Every deal is unique, so we review estimates early to avoid surprises.
Thinking about buying, selling, or downsizing in Lima, Ohio? Call Team Mangini Real Estate today.
