Actually the 1% of the

[SD Realtor]

Actually the 1% of the purchase price would be a decent quote for someone selling a home, (that is, the sellers side closing costs). For instance, a reasonable template would be as follows:

Sellers side basics –

-split escrow 50/50
-title insurance for buyer
-county transfer tax (1.10 for every 1000)
-homeowners warranty (400)
-NHD and CLUE (100 or so)
-miscellaneous fees for loan payoff
-transaction coordination/doc fees

**All the above should total to somewhere between .75-1.0% of the purchase price.

Other costs for sellers to expect –

– Termite inspection
– Remediation and treatment due to termites
– Repairs requested by buyer
– Credits requested by buyer

Prorations sellers should not ignore –

– Property tax proration
– Mortgage interest proration

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Buyers side are pretty much all due to your financing fees. Still there are some no brainers.

– Split escrow
– Appraisal (350-375)
– Physical Inspection (350-400)
– Recording fee (50-75)
– Misc doc or transaction coordination fee

**Financing fees

– Loan origination fee
– Loan discount points
– Misc fees (underwriting fees/doc fees)

**
– Hazard Insurace
– Property taxes
– Title insurance for your lender

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All in all for buyers I would estimate about 2-3% depending on how much you buy down your loan. Obviously the more you buy it down the more you will pay at closing.

Finally the 1% for sellers is not including large credits that buyers are asking for more and more these days.