Buyer Closing Costs

Buyer closing costs can vary greatly depending on property value and other factors. To get a better understanding of your expected closing costs, conferring with your real estate attorney, realtor, lender, and your tax accountant would be advisable.

Here’s an outline of common buyer closing costs:

Lending Fees

Origination Fees
Loan Discount Points (if applicable)
Private Mortgage Insurance (PMI) if putting less than 20% down
Loan Underwriting & Processing Fees
Down Payment
Prepaid Interest
Credit Report & Tax Service Fees
Flood Certification Fee
Appraisal

Transaction Fees

Escrow Deposits
Document Preparation
Property Inspection
Attorney Fees
Utility Prorations
Title & Homeowners Insurance
Recording Fees for documents filed at the town office

Tax Fees

Property Transfer Tax, Vermont’s Property Sales Tax: The State of Vermont requires the buyer to pay a transfer tax whenever there is a purchase of real estate. The amount of the transfer tax is generally 1.45% of the purchase price. The tax is discounted to one half of one percent for the first $100,000.00 of the purchase price if you use the property as your primary residence. For more information click here or consult your real estate attorney.

Real Estate Tax Prorations

Have specific questions? Please feel free to contact us for more information!