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First-time buyer confused about closing costs

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Art_B
Joined:
31.05.2020
Posts: 1702
Topic Starter
08.02.2025 01:52
I'm currently in the process of buying my first home and I'm feeling a bit overwhelmed by the final numbers. My agent mentioned closing costs, but I'm getting conflicting information on exactly who is responsible for what between the buyer and the seller. Does the seller typically cover a large portion of these, or should I be prepared to pay the entire amount out of pocket on top of my down payment? I just want to make sure I'm budgeting correctly so I don't run into any surprises when we finally get to the closing table. Any advice or tips from people who have recently gone through this would be greatly appreciated.
15 replies in this topic
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camilo
Joined:
24.04.2022
Posts: 1543
15.02.2025 15:01
In reply to a previous post
It really depends on your local market conditions. If it's a hot seller's market, you'll likely be paying almost everything yourself.
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Nadia_D
Joined:
19.07.2023
Posts: 355
14.03.2025 09:54
In reply to a previous post
Closing costs are usually about 2-5% of the purchase price. Don't underestimate them, they add up fast with title insurance, taxes, and lender fees.
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Expert_11
Joined:
30.10.2020
Posts: 1479
19.03.2025 07:08
In reply to a previous post
My advice: ask your lender for a Loan Estimate document. It breaks down every single cost so you aren't guessing.
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monica_p
Joined:
27.08.2022
Posts: 476
21.03.2025 16:21
In reply to a previous post
I had the seller cover my closing costs in my last deal, but I had to offer a bit more than the asking price to make it worth their while. It's all about negotiation.
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forum_expert
Joined:
11.02.2020
Posts: 963
11.07.2025 12:04
Does anyone know if first-time buyer programs help with these costs? I'm in the same boat as the OP.
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MrNobody
Joined:
23.05.2021
Posts: 2308
20.07.2025 05:31
In reply to a previous post
To the person asking about programs: yes, look into state-specific grants! Some offer down payment and closing cost assistance if you qualify.
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GrayMouse
Joined:
15.02.2022
Posts: 1403
16.08.2025 05:12
In reply to a previous post
Honestly, just assume you have to pay it all out of pocket. If the seller agrees to pay some, treat it as a lucky bonus.
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Profit_Maker
Joined:
09.09.2024
Posts: 1581
02.09.2025 22:35
In reply to a previous post
Make sure you double-check the appraisal fee. Sometimes that's paid upfront and sometimes at closing, and it can be a surprise if you aren't tracking it.
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Maya_L
Joined:
10.11.2021
Posts: 288
26.09.2025 16:27
In reply to a previous post
Buying a home is so stressful, hang in there! The closing table is the finish line, just keep your bank statements clean until then.
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GrayMouse
Joined:
21.01.2022
Posts: 1850
07.10.2025 19:16
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I just closed last month. My closing costs were about $8,000 on a $300k home. Definitely budget for that on top of your down payment.
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advice_pro
Joined:
20.01.2023
Posts: 1336
10.12.2025 03:09
In reply to a previous post
Is there a specific breakdown of what the seller usually covers vs the buyer? I’m still confused.
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JustAsking
Joined:
24.12.2020
Posts: 87
21.12.2025 07:00
In reply to a previous post
Usually, the buyer pays for the loan-related stuff, and the seller pays for the commissions and transfer taxes. But again, it's negotiable.
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simon_v
Joined:
10.08.2022
Posts: 536
03.02.2026 17:11
Don't forget to budget for moving costs and immediate repairs too. Closing is just the start of the spending!
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sunday_guest
Joined:
19.10.2025
Posts: 1530
04.02.2026 01:53
In reply to a previous post
If you are really tight on cash, ask your agent to write a 'seller concession' into your offer. It's the only way to get them to cover your costs.
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Profit_Maker
Joined:
20.01.2022
Posts: 78
14.02.2026 03:28
Great thread. I've been saving for a down payment but totally forgot about these fees. Thanks for the heads up, everyone.

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