Closing day should feel exciting, not confusing. If you are buying or selling in Lexington, you are probably wondering how much you will pay at the table and which fees belong to you. You are not alone. The good news is you can forecast most costs early and avoid surprises.
In this guide, you will learn typical closing-cost ranges in Lexington, who usually pays what, the key documents that lock in your numbers, and smart ways to keep costs in check. Let’s dive in.
What closing costs cover
Closing costs are the one-time fees and prepaids due when a home changes hands. They include lender fees, title and settlement services, government recording, inspections, insurance, and property tax adjustments. Some items are negotiable. Others depend on your loan program or local procedures in Lexington County.
Typical totals in Lexington
- Buyer total: commonly about 2% to 5% of the purchase price when you finance. Cash buyers are often on the lower end.
- Seller total: commonly 6% to 10% of the sale price, largely due to the real estate commission, which is usually the biggest line item and is negotiable.
Your exact numbers depend on loan type, prepaids like taxes and insurance, any seller credits, and current local fees.
Who pays what in Lexington
Customs can shift by neighborhood, contract, and title company. Use this as a starting point and confirm during your contract period.
What buyers usually pay
- Loan-related fees: origination, underwriting, processing, and optional discount points.
- Appraisal and credit-related checks.
- Lender’s title insurance policy and closing or settlement fee.
- Recording for the mortgage and most lender-required services.
- Prepaids: homeowner’s insurance, prepaid interest, and initial escrow deposits.
- Inspections and survey if required.
What sellers typically cover
- Real estate commission, which is negotiable and commonly totals 5% to 6% of the sale price.
- Owner’s title insurance is often a seller-paid item in many markets, but this varies locally and by negotiation.
- Seller’s closing or settlement fee, plus deed or transfer-related charges where applicable.
- Payoff of any mortgages or liens, and prorations for taxes and HOA dues.
- Any agreed credits toward buyer closing costs or repairs.
Buyer costs: common line items and ranges
Use these ranges to build a working estimate. Actual quotes will come from your lender and closing agent.
- Loan origination and lender fees: usually 0.5% to 1.5% of the loan amount. Application, underwriting, and processing often total $300 to $1,200.
- Discount points: optional and priced at 1% of the loan amount per point to lower your rate.
- Appraisal: typically $350 to $700 for a standard single-family home.
- Credit report, flood certification, tax service: commonly $30 to $50, $10 to $25, and $50 to $100.
- Title and settlement services: lender’s title policy often 0.2% to 0.8% of the loan amount; settlement fee typically $300 to $900.
- Recording and local deed or transfer charges: recording is often a modest per-document fee. The structure and any deed stamp amounts in Lexington County should be confirmed with the Register of Deeds.
- Prepaids and escrows: first-year homeowner’s insurance premium, prepaid interest based on your closing date, plus an initial escrow cushion for taxes and insurance, often 1 to 3 months of each.
- Inspections and survey: home inspection $300 to $600; termite/pest $50 to $200; survey $300 to $1,000+ if required.
- Other: PMI upfront if applicable, HOA initiation or estoppel fees, moving costs.
Seller costs: common line items and ranges
- Commission: commonly 5% to 6% of the sale price and negotiable.
- Owner’s title insurance and title fees: often seller-paid in many markets, but local practice varies and can be negotiated.
- Transfer or deed-related charges and recording: amounts and methods vary by county. Confirm with the Lexington County Register of Deeds.
- Mortgage and lien payoff: principal balance, accrued interest, and any payoff fees.
- Prorations and credits: property taxes and HOA dues are typically prorated; sellers may also agree to closing-cost credits or repair concessions within loan program limits.
- Repairs and warranties: any negotiated repairs or a buyer home warranty, often $300 to $700.
- Other: attorney or document prep $200 to $900, courier, or payoff processing fees.
Timeline: when you get firm numbers
Federal rules give you clear estimates before you close on a loan.
- The Loan Estimate arrives within 3 business days after your loan application. It outlines your loan terms and estimated closing costs so you can compare lenders.
- The Closing Disclosure is delivered at least 3 business days before you sign. It is the final, itemized statement for mortgage transactions, with only limited changes permitted after delivery.
After you sign, the closing agent records the deed and mortgage with the county. Funds are disbursed after recording and any required clearances.
Ways to lower closing costs
- Compare lenders. Rates and fees vary. Request written fee lists with each quote.
- Ask for seller concessions. Many loan programs allow sellers to credit a portion of your closing costs, subject to program caps.
- Consider lender credits. A slightly higher rate can offset some upfront costs.
- Time your closing date. Closing near month-end can reduce prepaid interest.
- Buy or skip points strategically. Run the break-even math before paying discount points.
- Review optional items. Only order surveys or warranties when they add protection for your situation.
Local checks to complete early
- Contact the Lexington County Register of Deeds and Treasurer to confirm current recording fees, any deed or transfer taxes, and tax proration schedules.
- Ask your closing agent for written title insurance premiums for both owner’s and lender’s policies, plus their settlement fee.
- Get at least two quotes for appraisal, home inspection, pest inspection, and survey if required.
- Confirm with your lender how many months of escrow deposits they require and whether they charge an origination fee.
- Ask your agent what is customary in your part of Lexington today for items like the owner’s title policy and typical seller concessions.
Quick worksheet: estimate your numbers
Use this checklist to build a personalized estimate you can refine as quotes arrive.
- Basic inputs: sale price, closing date, loan amount or down payment percentage, annual property tax, homeowner’s insurance premium, HOA dues, and any HOA transfer or estoppel fee.
- Buyer items: origination fee, points, appraisal, credit report, flood cert, lender’s title policy, owner’s policy if you will buy it, settlement fee, recording and deed-related estimates, prepaid interest, initial escrow deposits, inspections, survey, PMI upfront, and a line for other items.
- Seller items: commission percentage, owner’s title policy if paying, settlement fee, deed or transfer-related charges, mortgage payoff, prorated taxes, HOA transfer or unpaid dues, repair credits or buyer concessions, home warranty, and other fees.
- Prorations: taxes, HOA dues, and utilities based on your closing date.
Want a ready-to-use spreadsheet that calculates buyer cash to close or seller net proceeds? Reach out and ask for the free Lexington Closing Costs Worksheet, and you will get a simple file you can update as quotes come in.
Ready to run your numbers?
If you want a clear, line-by-line estimate tailored to your address, loan type, and closing date, I can coordinate quotes from trusted Lexington lenders and closing agents and assemble everything in one simple breakdown. You will know what is negotiable and where to save without guesswork. Connect with Hannah Norman to get started.
FAQs
What are typical buyer closing costs in Lexington, SC?
- Buyers commonly pay about 2% to 5% of the purchase price, depending on loan type, points, prepaids, and any seller credits.
What are typical seller closing costs in Lexington, SC?
- Sellers often see 6% to 10% of the sale price, with the real estate commission usually the largest item, plus title, recording, prorations, and any agreed credits.
When will I know my exact cash to close as a buyer?
- You receive a Loan Estimate within 3 business days of applying and a Closing Disclosure at least 3 business days before closing that itemizes final numbers.
Can a seller pay part of my closing costs in Lexington?
- Yes. Seller concessions are negotiable, and the allowable amount depends on your loan program. Your lender will confirm the cap for your loan type.
Who typically pays for owner’s title insurance in Lexington?
- Practices vary and are negotiable. In many markets sellers cover the owner’s policy, but you should confirm with your closing agent and your purchase contract.
How are property taxes handled at closing in Lexington County?
- Taxes are usually prorated based on the closing date. The closing agent uses the county’s schedule so each party pays their share for the time they owned the home.
What are deed stamps or transfer taxes in South Carolina?
- These are charges related to recording and transferring the deed. Amounts and structures vary by county, so confirm the current method and fees with the Lexington County Register of Deeds.
