Whether you’re buying your dream home or preparing to sell, closing costs are a big part of the equation. In Ohio, these fees can add up—but knowing what to expect puts you one step ahead. Here's a breakdown of typical closing costs, who pays what, and how to plan for a smooth closing.
What It Really Costs to Sell Your Home in Ohio
Seller closing costs in Ohio typically range from 6–10% of the sale price and are usually deducted from your proceeds—but if your equity is low, you may need to bring funds to closing. These costs are outlined in ten standard sections of the settlement statement.
1) Financial Understanding the Sales Price & Credits
This part of your closing disclosure outlines the final agreed-upon sales price of the home. It appears as a credit to the seller, meaning it's the starting point from which all seller-related costs—like agent commissions, title fees, and taxes—will be deducted.
2) Prorations & Adjustments at Closing
This section covers pro-rated property taxes and HOA dues that are split between the buyer and seller at closing. In Ohio, property taxes are generally paid in arrears, meaning the seller pays their share for the portion of the year they owned the home before closing, even though the full tax bill isn’t due until the following year.
3) Loan Charges (Buyers Only)
This section lists loan-related fees that the buyer pays to secure their mortgage. These charges do not apply to the seller and are separate from the down payment.
4) Other Loan Charges (Buyers Only)
This section covers extra fees related to the buyer’s mortgage that aren’t part of the main loan costs. These charges are paid by the buyer and do not affect the seller.
5) Impounds (Buyers Only)
This section shows prepaid amounts the buyer deposits at closing to fund their escrow (impound) account for future home expenses. These costs are paid by the buyer and do not apply to the seller.
6) Title & Escrow/Settlement Charges
This section includes all fees charged by the title company to both parties. The most significant title fee is the owner’s title insurance policy, which is typically paid for by the sellers in Central Ohio. Title insurance rates are set by government and typically cost about 0.5% of the sale price. Click here to calculate your exact rate.
Other title fees include:
- Title Settlement Fee: $150 - $250
- Title Search/Exam Fee: $200 - $250
- Title Insurance Binder: $50
- Title Update Fees: $0 - $100
- Courier Fees: $0 - $50
- Total: $400 - $700
7) Commission
The seller is responsible for paying the real estate commission, which is typically 4–7% of the sale price. This fee is agreed upon with your Realtor before listing and is usually divided between the listing agent and the buyer’s agent. Understanding this helps you plan your selling costs upfront.
8) Government Recording & Transfer Charges
This covers recording fees, usually paid by the buyer, and transfer taxes, typically paid by the seller. Transfer tax rates vary by county. For example, in Franklin County, the transfer tax is $2 per $1,000 of the sales price.
9) Payoffs
This section lists the amounts the Seller owes to pay off any mortgages and/or liens they have on their home. For example, if you owe $200,000 on your current This section shows what the seller owes to pay off mortgages or liens on the property. For example, if your mortgage balance is $200,000, that amount will be deducted from your sale proceeds.
10) Miscellaneous Fees
This section includes a list of miscellaneous fees. Below are some examples of common miscellaneous charges:
- Document Preparation Fees: $50 - $100
- Home Warranty Plan: $450 - $700 (if part of the purchase contract)
- Seller Paid Closing Costs: buyers will often ask the sellers to pay for their closing costs; if you agree to this in the purchase contract, it will be notated here
- Additional Brokerage (Document Storage) Fees: $200 - $300
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What Buyers Pay at Closing
Buyers usually pay 2–4% of the sale price in closing costs, mainly related to their mortgage. However, it’s common to negotiate for the seller to cover some or all of these fees. Below is a breakdown of typical buyer-paid costs.
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Typically 2–4% of the sale price
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Mostly mortgage-related fees (loan, appraisal, etc.)
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Other costs may include title insurance, inspections, and taxes
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Sellers often negotiate to cover some or all fees
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Buyers should review and budget these costs before closing
1) Financial
This section shows the agreed sales price of the home and appears as a debit for the buyer. All closing costs and fees you owe will be deducted or added to this amount at closing.
2) Prorations & Adjustments
This section covers outstanding HOA dues and property taxes that you’ll pay at closing. Property taxes are usually paid in arrears, so you’ll pay a pro-rated amount based on the closing date. For example, if you close on March 1, you’ll pay taxes for January 1 to February 28. The exact amount varies depending on your closing date.
3) Loan Charges
This section is for buyers only and lists the fees and costs you owe for your new loan. Common loan charges include:
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Origination fees (charged by the lender for processing your loan)
- Underwriting fees
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Prepaid interest (interest accrued before your first mortgage payment)
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Mortgage insurance (if required)
These charges are part of your total closing costs.
4) Other Loan Charges
This section lists other loan charges, and include the following:
- Appraisal Fees: $350 - $500
- Credit Report Fees: $15 - $25
- Flood Certification: $5 - $15
5) Impounds
This section applies only to buyers and shows amounts due at closing for homeowners insurance and property taxes. Lenders often require buyers to pay 3 months of insurance and 5 months of property taxes upfront to set up an escrow account.
6) Title Charges & Escrow/Settlement Charges
This section lists the fees charged by the title company that buyers typically pay. Common buyer fees include:
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Lender’s Title Insurance Premium: approx. $100
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ALTA Endorsements (Environmental Protection/Liens): approx. $50
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Restrictions/Encroachments: approx. $150
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Survey Fee: approx. $100
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Settlement Fees: $200–$300
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Insurance Binder: $50
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Recording Fees: $30–$100
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Courier Fees: $25–$50
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Closing Protection Letter: $40
These fees cover the title search, paperwork, and ensure a smooth closing process.
7) Commission
This section shows the real estate commissions paid by the seller, so buyers typically do not pay any commission fees.
8) Government Recording & Transfer Charges
This section lists the recording fees the buyer pays to record the deed ($25–$40) and mortgage ($60–$200). It also shows the transfer tax, which is typically paid by the seller.
9) Payoffs
This section shows what the seller owes to pay off any mortgages or liens on the home. These amounts do not affect the buyer.
10) Miscellaneous Fees
This section lists any additional closing costs. For buyers these include:
- Home Insurance Premiums: $500 - $1,500
- Additional Surveys Fee: $100 - $175
- Additional Brokerage (Document Storage) Fees: $200 - $300
Still Have Questions About Closing Costs?
Closing costs can be confusing, but you don’t have to navigate them alone. Whether you’re buying a home, selling your property, or planning your next move, our expert team is here to offer clear explanations and personalized support every step of the way.