Understanding Closing Costs in Texas: What Buyers and Sellers Need to Know
By Michele Lafortune
Discover the essential expenses that come into play during a property transaction—ranging from loan origination and appraisal fees to title insurance and property taxes. Learn who's responsible for what and ensure you're prepared when the time comes to finalize the deal.
In Texas, closing costs refer to the expenses that buyers and sellers incur during the transfer of property ownership. These costs can include loan origination fees, appraisal fees, title insurance, escrow fees, property taxes, and attorney fees. The total amount varies based on factors like the property's price, location, and type of loan. Typically, buyers cover the majority of closing costs, but sellers might pay certain fees depending on the sales agreement. It’s essential for both parties to review these costs carefully to understand their financial responsibilities at the closing table.
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