Who Pays for What
A plain breakdown of typical buyer and seller closing costs. Every contract is negotiable — use this as a guide, not a rule.
Typical cost responsibilities
Who pays which cost is set by your purchase agreement and local custom. This is what we most often see.
Typically the buyer pays
Lender fees and loan-related charges
Lender’s title insurance policy
Recording fees for the deed and mortgage
Prepaid taxes and homeowner’s insurance
Inspection and appraisal fees
Typically the seller pays
Owner’s title insurance policy (custom varies)
Real estate commission
Payoff of existing mortgages and liens
Prorated property taxes owed through closing
Deed preparation
Allocations vary by contract and by county custom. Your settlement statement will itemize exactly who pays what for your transaction.
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Diamond Title Company
4030 State Route 43, Suite 201
Kent, OH 44240
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Questions about your closing? Reach the Diamond Title team Monday through Friday, 8:30am–5:00pm ET.