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Cummings & Co.

Forging Relationships Throughout Vermont

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!