HomeBlogPersonal FinanceWhat Are Closing Costs, Exactly? Share on Like what you see? Share with a friend. What Are Closing Costs, Exactly? Chris Kirshenboim | September 11, 2020 Last updated August 10, 2026 What are closing costs? They are the charges settled on the day the deed changes hands: title insurance, transfer and recording fees, the escrow or attorney charge, prorated taxes, any liens that have to be cleared, and the commission when an agent is involved. A Des Peres seller listing on the open market commonly gives up somewhere near eight percent of the sale price once commission is counted. That is closing costs explained in a single line, and it is the number that surprises people at the table. A direct sale changes the arithmetic. We buy houses in Des Peres, Missouri and cover the standard closing costs ourselves, there is no commission on our side or yours, and the figure we quote is the figure you leave with. Read how we buy houses for the full walkthrough. None of it commits you to anything. What Are Closing Costs Exactly In Des Peres, MO? Closing costs refer to all of the fees that must be paid at the closing table. Depending on where you live, the fees and costs can vary. But generally, closing costs include, but are not limited to: Notary fees Transfer Costs Transfer Taxes Appraisal Costs Inspection Fees Origination Fees Recordings Fees Title Insurance Underwriting Fees Bank Fees Courier Fees Wire Transfer Fees Liens against the home will need to be paid to clear the title Credit Report Fees Administrative Fees Attorney Fees, If Applicable The balance of your mortgage or loans against the home Possibly repairs or pest control if this has previously been agreed upon COMMISSIONS! Who's Paying In Missouri? While the buyer will usually pick up a number of theses, it is important to note, that the seller typically pays 100% of the commission. This will be about 6%+ of the final sale price. Other than your possible mortgage balance, this is by far the biggest cost when it comes to costs at the closing table. Negotiating the other costs during the sale process is becoming increasingly popular. In an effort to lure in more buyers, sellers are more frequently picking up the tab when it comes to the closing costs. As a seller, you will also need to pay your share of the year's property tax, up until the day of closing. Any HOA fees or other community costs should be prorated and paid at this time as well. What Are Seller Subsidies In Missouri? This is an amount negotiated between the buyer and seller. It is the percentage the seller agrees to pay towards the closing costs. For example, you can offer to put 3k towards closing to help relieve some of the costs for your buyer. Overall, paying these subsidies is often a small price to pay to bring buyers to the table! Can You Avoid These Costs In Des Peres, Missouri? Yes! By working with a direct buyer who will pick up all costs associated with the closing! A direct buyer will not charge you a commission, as they are not an agent. Many times, direct buyers will offer to pick up all costs, which will save you money and hassle at the closing table. Are Repairs Of Your Des Peres, MO Home Included? This is another one that is negotiated between the buyer and the seller. If the home is in need of some obvious repairs, the seller will often take care of these before putting their home on the market. However, if an inspection shows additional repairs are needed, a buyer may make his offer contingent on repairs being made. A buyer and seller can work this out before going to closing. Sell My House In Des Peres, MO This is what makes us stand out from the traditional way of selling a property: There are NO fees or commissions when you sell your house in St. Louis to us. The responsibility is ours, as reputable Missouri home buyers, and you walk away without the burden of the property and its payments, and often with cash in your hand. Do You Want To Avoid The Costs To Sell Your House In The Traditional Way? We Are Here To Help! Contact Us Today To Learn More! (314) 334-1481 FAQs Frequently Asked Questions Who pays closing costs in Missouri? + Both sides pay something. Buyers generally carry the lender fees and their own title work, while sellers carry the commission, transfer fees and their share of the prorated taxes. Can closing costs be negotiated? + Some of them. Commission is negotiable, and buyers often ask the seller to cover part of their side as a concession. Recording and transfer fees are set by statute and are not. Are there closing costs on a cash sale? + There are, but the list is much shorter with no lender and no agent involved. On the houses we buy we pay the standard closing costs, so the offer is what you actually take home.
