Seller and Buyer Closing Costs State By State

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Summary: Seller and Buyer Closing Costs State By State Seller and buyer closing costs are usually a mystery, and we frequently receive emails asking us to give sellers more information on who generally gets to pay for survey and title insurance expenses. So, we prepared a list of two of the most popular closing costs paid by sellers and buyers on a state by state basis: title insurance for the owner's title insurance policy and survey costs. There are so many closing costs to deal with, but these two costs are usually not thought about by a home buyer or a home seller.

Seller and Buyer Closing Costs State By State

Seller and buyer closing costs can really add up. High seller closing costs and fees can cut into the profit a seller is expecting to pocket from the sale of his or her home or increase the amount of money the seller needs to come to the closing if the seller owes more money on his mortgages than the amount he or she will net from the sale of the home.

Likewise, buyer closing costs can increase the amount of money a buyer needs to close on the purchase a home.

We have several other articles on ThinkGlink.com that list the endless seller and buyer closing costs you'll encounter when you buy or sell property. You should read those articles for more detailed information on the seller and buyer closing costs you'll encounter. You can link to these other articles here:

Buyer Closing Costs

Seller Closing Costs.

Addressing the Forgotten Seller and Buyer Closing Costs: Title Insurance and Survey Costs

Most people remember many seller and buyer closing costs but two closing costs that are at times forgotten are title insurance expenses and survey costs.

In just about every state, the buyer must pay for title insurance expenses related to their loan with their lender. In some states ,the seller pays for the owner's title insurance policy as a seller closing cost. In other states, the buyer pays for the owner's title insurance policy as a buyer closing cost.

An owner's title insurance policy insures the new buyer of the home against title insurance problems and issues. Done right, an owner's title insurance policy will protect a buyer against forged documents, lien claims, undisclosed easements and other agreements, and claims by others against the new buyer's ownership interest in the property.

For additional information on owner's title insurance policies start with our Title Insurance Topic page.

Finally, in many states, if you want to make sure you know what you are buying and that there are no title insurance problems or issues relating to property boundaries or other survey issues, you need to come to the closing with a plat of survey.

The plat of survey will depict the building and other structures located on the land you are buying and draw out any potential problems with that particular piece of land. If the neighbor's garage is actually a foot onto the property you are buying, the survey should disclose that.

For more information on surveys, read:

No Survey Leads to Big Problems.

STATE BY STATE GUIDE TO PAYING FOR TITLE INSURANCE AND SURVEYS

THE PARTY RESPONSIBLE FOR PAYMENT FOR:

State......................................Title Insurance......Survey

• ALABAMA............................Negotiable...........Negotiable
• ALASKA...............................Seller...................Seller
• ARIZONA .............................Seller..................Buyer
• ARKANSAS...........................Seller.................Negotiable
• CALIFORNIA ........................Varies................Buyer
• COLORADO ........................Seller.................Negotiable
• CONNECTICUT.....................Buyer................Buyer
• DELAWARE..........................Buyer................Buyer
• DISTRICT OF COLUMBIA.....Buyer...............Buyer
• FLORIDA..............................Seller................Negotiable
• GEORGIA.............................Negotiable........Buyer
• HAWAII..................................Varies..............Negotiable
• IDAHO..................................Seller................Negotiable
• ILLINOIS................................Seller...............Seller
• INDIANA................................Seller................Buyer
• IOWA....................................Negotiable........Negotiable
• KANSAS................................Varies..............Seller
• KENTUCKY............................Buyer..............Buyer
• LOUISIANA............................Buyer...............Negotiable
• MAINE...................................Buyer...............Buyer
• MARYLAND..........................Buyer................Buyer
• MASSACHUSETTS...............Buyer................Buyer
• MICHIGAN............................Seller.................Negotiable
• MINNESOTA.........................Negotiable.........Negotiable
• MISSISSIPPI.........................Seller.................Negotiable
• MISSOURI............................Varies................Seller
• MONTANA...........................Seller..................Negotiable
• NEBRASKA.........................Divided equally....Seller
• NEVADA.............................Seller...................Negotiable
• NEW HAMPSHIRE...............Buyer..................Buyer
• NEW JERSEY.....................Buyer...................Buyer
• NEW MEXICO.....................Seller...................Buyer
• NEW YORK........................Buyer...................Negotiable
• NORTH CAROLINA............Buyer....................Buyer
• NORTH DAKOTA..............Buyer.....................Buyer
• OHIO.................................Negotiable.............Buyer
• OKLAHOMA......................Buyer.....................Buyer
• OREGON.........................Seller......................Buyer
• PENNSYLVANIA...............Buyer......................Buyer
• RHODE ISLAND...............Buyer......................Buyer
• SOUTH CAROLINA..........Buyer.......................Buyer
• SOUTH DAKOTA.............Divided equally........Buyer
• TENNESSEE....................Seller.......................Negotiable
• TEXAS.............................Seller.......................Negotiable
• UTAH...............................Seller.......................Buyer
• VERMONT.......................Buyer.......................Buyer
• VIRGINIA .........................Buyer.......................Buyer
• WASHINGTON.................Seller.......................Buyer
• WEST VIRGINIA...............Buyer.......................Buyer
• WISCONSIN.....................Seller.......................Buyer
• WYOMING.......................Seller.......................Buyer

Use this information only as a guide in determining buyer or seller closing costs when planning for your home purchase or sale. Keep in mind that some of these costs may change from county to county, depending on the custom in each county. For more information, you can call a title insurance company in your area and ask them to tell you who typically pays for these expenses in your area or talk to a real estate attorney in your community. Frequently, most real estate sales agents and brokers are also quite knowledgeable on the issue of who pays for what when it comes to some of these expenses.

If you are selling your home, you might be interested in these eBooks From ThinkGlink.com

How to Price Your Home For Sale

Staging Your Home to Sell

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© Ilyce R. Glink. All rights reserved. This content may not be used, distributed, syndicated, compiled or excerpted in any medium or form without written authorization from Think Glink, Inc. For information on syndicating ThinkGlink.com please contact us.

Related Topics

• closing costs, 
• real estate, 
• real estate advice, 
• real estate law, 
• title insurance, 
• title problems

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