I am closing on a house in a couple of weeks…we have the same stats as you. Closing costs are approx. $10-12K. A bulk of it is the 7 or 8 months worth of property taxes needed up front based on the last sale price which was significanly higher in our case. The state refunds the money later when the new sale price is updated. It’s not really 1% of the purchase price as most agents will quote you. Plan to double or triple that.