Seller Closing Costs
Sellers and buyers have their own closing costs when a home is sold in Oregon or Washington. By in large, home buyer closing costs are the highest and most significant of the two, but depending on where exactly you live (what county and state), the seller will have varying closing costs in addition to real estate commission. Seller's closing costs typically cover half of escrow (the buyer pays for the other half) and covers all or a big portion of the title insurance (that covers transfer of ownership). Typically the seller is also paying some mandatory costs with the county to officially record the sale. For more information, read our regularly updated reports below on seller closing costs, or reach out to us direct.
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Stephen FitzMaurice, Realtor
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What is Title Insurance and Who Pays for It?
Buying or selling a home means anticipating costs, some of which are closing costs. In Oregon, most of the amount needed at closing is for title insurance. This type of insurance isn’t required by law in Oregon. However, most lenders require it to ensure a smooth transition from seller to buyer and to protect their […]
Should the Seller Pay the Buyer’s Closing Costs?
Selling or buying a home and getting approved for a mortgage can be a taxing process, even for those who have done it before. Laws and standards change, and for most of us, we only do it a few times throughout our lives. Closing costs are the biggest upfront financial investment, especially for the buyer. […]
Who Pays for Title Insurance? Oregon Closing Costs
When’s the last time you heard of someone losing their home because an unsatisfied heir of a previous owner laid claim to it? You probably haven’t because of title insurance, an often-overlooked component of real estate transactions. In Oregon, title insurance represents a lion’s share of the average home seller’s closing costs, but home buyers […]
Home Buyers and Seller Closing Costs – Portland, Oregon Metro Area Report
Updated 8/22/2023. For some people, “closing costs” is a vague term attached to selling or buying a home. Many aren’t clear about who pays what. Educating yourself on this part of the home selling/buying process is essential for a successful and surprise-free transaction. Closing costs vary from state to state. Also, because they’re based on […]
Should the Seller Pay the Buyer’s Closing Costs? 2022 Report
Selling or buying a home and getting approved for a mortgage can be a taxing process, even for those who have done it before. Laws and standards change, and for most of us, we only do it a few times throughout our lives. Closing costs are the biggest upfront financial investment, especially for the buyer. […]
Should the Seller Pay for Closing Costs? 2021 Update
Closing costs constitute some of the most opaque parts of the home buying process. As you’re looking to sell, you might find yourself wondering exactly what it is that you owe to the buyer. What do closing costs entail, and who pays for them? We’re here to demystify this process. What Constitutes Closing Costs? When […]
How much are Sellers’ Closing Costs to Sell a Home in Oregon?
Updated 04/2023. The seller pays for the title insurance closing cost. A home seller has to pay for the bulk of title insurance cost. Title insurance is the policy purchased to protect the buyer from a false or hidden seller, essentially ensuring that the person selling the home is legally allowed to sell the home. […]
Should Seller Pay Buyer’s Closing Costs? – 2019 Update
1. Why does the buyer think the seller should pay? Many times sellers have not purchased a home in a while and it is easy to forget just how much it costs upfront for the buyer. The buyer must pay for the home inspection out of pocket (now typically around $500 or more for older […]
Should Seller pay the Buyer’s Closing Costs? 2018 Update
Why is the buyer asking the seller to pay their closing costs? The buyer’s motivation is simple, they want to purchase a home! The buyer has to come up with the downpayment amount, money to order inspections, money to order the appraisal, and money for their buyer closing costs. This all can add up to […]
Should the Seller Pay the Buyer’s Closing Costs? 2017 Update
The Portland real estate market is roaring back to life after an unusually quiet first quarter. (If you’re not around from here, it was an unusually difficult weather cycle!) When things are quiet in a real estate market or when a home does not sell right away many sellers will see an offer where the […]
Stephen made the experience of selling my first house seamless. I live in another state but he kept me informed and moved the process along without a hitch. The only thing another agent could have done differently was charge a much higher commission. I only wish he was able help me purchase in my state. Highly recommend his service and business model.
Julie
