Are you wondering who pays which fees when a home closes in Upper Arlington? You are not alone. Closing costs can feel like a maze, and the answers often depend on your loan, the contract, and local customs in Franklin County. In this guide, you will learn what buyers and sellers typically pay, what is negotiable, and how to estimate your numbers with confidence. Let’s dive in.
Closing costs at a glance
Closing costs are the one-time expenses due at the end of a real estate transaction. They cover services like the loan, appraisal, title work, recording, and prorations for taxes and dues. In our market, practices can vary by property type and by agreement between the parties. Your exact numbers will appear on the lender’s Loan Estimate and Closing Disclosure, and on the settlement statements prepared by the title company.
Buyer closing costs in Upper Arlington
Typical total range
As a buyer, you commonly pay about 2% to 5% of the purchase price in closing costs. This does not include your down payment. The final amount depends on your loan type, lender fees, and whether you choose options like discount points.
Common buyer fees and ranges
- Loan origination: often 0.5% to 1.0% of the loan amount.
- Discount points: optional, typically 1% of the loan per point if you buy down your rate.
- Appraisal: usually $400 to $800 for a single-family home.
- Home inspection: often $300 to $600, with extra for radon, termite, or specialty checks.
- Credit report: about $25 to $50.
- Lender-required reports: often $50 to $200 if needed.
- Title search and insurance: buyer typically pays the lender’s title policy; owner’s policy is often handled by the seller in many Ohio transactions, but this can vary.
- Settlement or escrow fee: often $300 to $1,000.
- Recording fees: usually $20 to $200 depending on county schedules.
- Survey (if required): often $300 to $900.
- HOA transfer or document fees: commonly $100 to $400 if applicable.
- Home warranty (optional): about $300 to $700 for a year.
Prepaids and escrow deposits
Expect prepaid interest and an initial escrow deposit for property taxes and homeowners insurance. Depending on your closing date, your lender may collect a few months of taxes and premiums to seed the escrow account. This can be a meaningful part of your cash-to-close.
How to get exact buyer numbers
By federal rule, your lender must provide a Loan Estimate within 3 business days of your application. At least 3 business days before closing, you must receive a Closing Disclosure with your itemized costs. Compare the two, and ask your lender or title agent to explain any differences.
Seller closing costs in Upper Arlington
Typical total range
Sellers usually pay more in total closing costs because commissions are included. A common range is 6% to 10% of the sale price, with the real estate commission often the largest single item. Remember that commissions are negotiable.
Common seller fees and ranges
- Real estate commissions: often a combined 5% to 6% of the sale price, split between the listing and buyer-side agents. The actual rate is negotiable.
- Owner’s title insurance: in many Ohio transactions, sellers pay for the owner’s policy to deliver clear, marketable title. Premiums follow rate tables.
- Mortgage and lien payoffs: any remaining balances are paid at closing.
- Prorated property taxes and utilities: you pay your share through the closing date based on the local tax schedule.
- Settlement or closing fee: often $200 to $800 if charged on the seller side.
- Recording fees and transfer documentation: modest, but county-dependent.
- Repairs or concessions: if negotiated for inspection items or appraisal gaps.
- HOA transfer or document fees: sometimes the seller provides required association documents.
- Home warranty (optional incentive): around $300 to $700.
Who pays title insurance locally
In many Ohio transactions, the seller pays the owner’s title policy and the buyer pays the lender’s title policy. Local custom can vary by area and agreement, so confirm with your title company and your purchase contract.
Franklin County specifics to confirm
Local fees and procedures can vary. Before you finalize numbers, confirm:
- Recording fees and any county conveyance charges with the Franklin County Recorder or Auditor.
- Property tax schedules and parcel data with the Franklin County Auditor for accurate prorations.
- Any HOA or condominium transfer and document fees with the association or management company.
- Any city-specific charges or utility prorations with the City of Upper Arlington.
What is negotiable between buyer and seller
Almost everything outside of lender-required items and third-party taxes or fees can be negotiated. Common levers include:
- Seller credits toward buyer closing costs to reduce buyer cash-to-close.
- Price adjustments in place of paying certain fees.
- Repairs vs. repair credits after inspections.
- Who pays for owner’s title insurance and settlement fees.
- Timing of closing to manage prepaid interest and escrow deposits.
Loan programs such as FHA, VA, and USDA have caps or rules around seller-paid concessions. Ask your lender to explain how much a seller can contribute for your loan type.
Sample math: illustrative only
To make the numbers more concrete, here is a hypothetical example for a $500,000 home. Actual costs will vary based on your loan, title company, and negotiated terms.
Seller example
- Real estate commission at 6%: $30,000
- Owner’s title insurance and closing fees: $1,500
- Prorated taxes, HOA dues, and recording: $2,000
- Repairs or concessions: $2,500
- Approximate seller total: $36,000 to $40,000, or about 7.2% to 8.0%
Buyer example
- Loan origination at 1% on a $400,000 loan: $4,000
- Appraisal: $600
- Inspection: $450
- Title and escrow fees plus lender’s title policy: $2,000
- Prepaids and escrow deposit: $3,000
- Recording and other fees: $500
- Approximate buyer total: $10,000 to $12,000, or about 2.0% to 2.4%
Timeline and key documents
For buyers
You should receive a Loan Estimate within 3 business days of applying. At least 3 business days before signing, you will receive a Closing Disclosure with your final costs. Bring questions to your lender or title agent so there are no surprises on closing day.
For sellers
Ask your listing agent and the title company for a preliminary estimate of your net proceeds before you list. Update that estimate when you receive an offer, after inspections, and again when the closing package is prepared.
How tax and fee prorations work
Prorations divide costs fairly based on who owns the home during each part of the tax or billing period. In Franklin County, property taxes are prorated through the day of closing based on the county’s schedule. HOA dues and utilities are also prorated according to community rules and provider cutoffs. Your settlement statement will show the credits and debits so each party pays only their share.
Tips to keep closing costs in check
- Compare lender fee structures and interest rate options, including any points.
- Schedule closing near month-end to reduce prepaid interest if that fits your timing.
- Ask your agent about credits or seller-paid costs when you write your offer.
- Confirm title and settlement fees with your chosen title company early.
- Review your disclosures closely and question any large changes.
Next steps
Closing costs do not have to be confusing. With the right guidance, you can plan for them, negotiate effectively, and close with confidence in Upper Arlington. If you are preparing to buy or sell, request a calm, data-informed review tailored to your property and timing. Connect with the team at Cece Miller Real Estate Group to Request a Private Market Consultation.
FAQs
What closing costs do buyers pay in Upper Arlington?
- Buyers typically pay about 2% to 5% of the purchase price for items like lender fees, appraisal, inspections, title and escrow services, recording, and prepaids.
What closing costs do sellers pay in Upper Arlington?
- Sellers usually pay 6% to 10% of the sale price, with the largest item often the real estate commission, plus title, prorated taxes, payoffs, and any negotiated repairs or credits.
Who pays for title insurance in Franklin County, Ohio?
- In many Ohio transactions, sellers pay the owner’s title policy while buyers pay the lender’s policy, but local practice and purchase contracts can change this.
Are closing costs negotiable in Upper Arlington?
- Yes. Buyers and sellers can negotiate credits, repairs, and who pays certain fees, subject to loan program rules about maximum seller contributions.
When will I see my exact closing costs?
- Buyers receive a Loan Estimate within 3 business days after applying and a Closing Disclosure at least 3 business days before closing, which lists final itemized costs.
How are property taxes prorated at closing in Franklin County?
- Taxes are prorated through the closing date based on the county’s tax schedule so each party pays for the period they own the home.
Does Franklin County charge specific recording or transfer fees?
- Yes. Recording and any county conveyance charges are set by Franklin County and will appear on your settlement statement; confirm current amounts with the Recorder or Auditor.
