Typical closing costs in DE? (mortgage, attorney, houses) - Delaware - City-Data Forum

camrynh · 01-21-2010, 06:29 AM

We've only purchased houses in VA. Not sure how the two states compare. Aside from the escrow and transfer fees, what do typical closing costs run for a 350K house with 20% down?

Thanks!

toobusytoday · 01-21-2010, 06:32 AM

Won't this depend on what you negotiate when you make an offer? We haven't bought a house in 12 years but the points and who paid what was part of the negotiation, not really anything to do with a state per se.

camrynh · 01-21-2010, 09:03 AM

Quote:

Originally Posted by toobusytoday

Won't this depend on what you negotiate when you make an offer? We haven't bought a house in 12 years but the points and who paid what was part of the negotiation, not really anything to do with a state per se.

Well, we didn't negotiate any because my husband's relo package pays closing costs. However, we pay them out of pocket and they reimburse us.

I've always understood that fees are different from area to area.

toobusytoday · 01-21-2010, 09:59 AM

I've found that they are different house to house, no matter what state (and we're on house #4) but maybe a local realtor can chime in.

rdlr · 01-21-2010, 10:17 AM

Quote:

Originally Posted by camrynh

We've only purchased houses in VA. Not sure how the two states compare. Aside from the escrow and transfer fees, what do typical closing costs run for a 350K house with 20% down?
Thanks!

I know you said 'aside from the escrow and transfer fees' .....But, in a nutshell - Buyer and Seller each have to pay Delaware Transfer Tax, 1 1/2%. Check w/an attorney if seller offers to pay DTT on behalf of buyer. (Armx....??? is that permissible?) In addition, towns also collect a transfer fee, and each jurisdiction may be different. Seller pays for the termite inspection (estimate $150) and for preparation of the deed. I just sold one of my properties and doc prep was $150, but it is figured as per page. It's typical for sellers to pay closing costs on the buyers' behalf, but that is all within the negotiation process. Depending upon where you get your mortgage, points/junk fees vary per lender. That's the big one.

armx · 01-21-2010, 11:02 AM

OP has a very specific question - answer to which should be in her possesssion , by way of the GFE from the mortgage Co. I am associated with a lender, too. The escrows and transfer taxes are the most stable numbers most people on the forum - not involved in the transaction - can come up with .. and the rest of the numbers involved in the closing costs depend on so many variables - any guess will be just that and not very helpful. Like rdlr wrote the closing costs also depend on which jurisdiction (which county, incorporated area or not, public sewer or not) the property is located ...e.g. Kent Co. properties - the survey is paid for by the Seller not so in NCCo Therefore, in spite of the same template contract, the actual agreement will determine the costs borne by each party.l

My initial advice to OP is that s/he check the GFE...

camrynh · 01-21-2010, 11:55 AM

Quote:

Originally Posted by armx

OP has a very specific question - answer to which should be in her possesssion , by way of the GFE from the mortgage Co. I am associated with a lender, too. The escrows and transfer taxes are the most stable numbers most people on the forum - not involved in the transaction - can come up with .. and the rest of the numbers involved in the closing costs depend on so many variables - any guess will be just that and not very helpful. Like rdlr wrote the closing costs also depend on which jurisdiction (which county, incorporated area or not, public sewer or not) the property is located ...e.g. Kent Co. properties - the survey is paid for by the Seller not so in NCCo Therefore, in spite of the same template contract, the actual agreement will determine the costs borne by each party.l

My initial advice to OP is that s/he check the GFE...

Thank you. That's pending, lol. Just trying to stay ahead of the game!

armx · 01-21-2010, 01:57 PM

So you do have the GFE ...then what's the problem ...can't figure it out?

camrynh · 01-21-2010, 04:47 PM

Quote:

Originally Posted by armx

So you do have the GFE ...then what's the problem ...can't figure it out?

No. The GFE is pending.

armx · 01-22-2010, 08:46 AM

If you applied for a mortgage, the mortgage co. has to give you a GFE as part of the application package. You may not have a copy of all the papers you signed when you applied or you did not know that the GFE is part of the package. Please check your paperwork ... I applaud you for trying to be ahead of the curve.