Closing costs are the fees and prepaid items due when a home sale closes. Your lender provides a Loan Estimate early and a Closing Disclosure before closing — those documents show your actual figures.
Common buyer costs
- Lender fees and appraisal
- Title insurance (lender's policy) and escrow fees
- Prepaid property taxes, homeowners insurance, and interest
- VA funding fee for most VA borrowers (can be financed)
Common seller costs in Washington
- Real estate excise tax (REET), paid to the state and local jurisdiction
- Owner's title insurance policy (customarily paid by the seller in many Washington transactions)
- Escrow fees and any negotiated buyer credits
Who pays what is negotiable and varies by contract. Ask your lender and escrow officer for exact amounts.
This article is general information, not legal, tax, or financial advice.