If you’re planning to buy a home in Greenville, Simpsonville, Five Forks, or anywhere in the Upstate, it’s important to budget not only for your down payment but also for closing costs. These are the fees and expenses you’ll pay when finalizing your home purchase.
What Are Closing Costs?
Closing costs are all the necessary charges to complete a real estate transaction. They ensure the property changes hands legally and that both the buyer and lender are protected.
What’s Included in Closing Costs?
Here are some of the most common items buyers may see on their closing statement:
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Loan Origination Fees – Charged by your lender to process the mortgage.
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Appraisal Fees – Paid for a professional assessment of the property’s market value.
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Title Insurance – Protects you and the lender against disputes over property ownership.
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Attorney Fees – Covers the cost of legal services during closing.
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Home Inspection Fees – Ensures the property is in safe, livable condition.
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Prepaid Taxes & Homeowner’s Insurance – Often required to be paid upfront at closing.
How Much Are Closing Costs?
On average, closing costs in South Carolina range between 2% and 5% of the purchase price. For example, on a $350,000 home, buyers could expect to pay between $7,000 and $17,500 in closing costs.
Final Thoughts
Closing costs can feel overwhelming, but understanding them upfront makes the home buying process much smoother. A good realtor will walk you through your estimate and help you prepare, so there are no surprises at the closing table.
If you’re ready to buy a home in Greenville or the Upstate, I’d love to guide you through the process and connect you with trusted local lenders who can explain closing costs in detail.
