Closing Costs: What Exactly Are They, and How Much Should You Budget For?

Planning to buy a home this year? Knowing your closing costs ahead of time means no surprises when you sign the final documents.

Hi, I'm Tanja Odzak, Realtor with eXp Realty, helping people sell and buy homes right here in the East Bay for the last 10 years.

Closing costs are the fees and expenses you pay before becoming the legal owner, and they vary based on the home's price and how it's financed. Typical costs include the appraisal, credit reports, lender origination fees, title and underwriting, and notary fees. Overall, they usually run 2 to 3% of the purchase price, so on a $750,000 home, that's roughly $15,000.

The good news: everything is negotiable, and you may be able to get a credit from the seller to offset some of it. That's where having an experienced agent negotiate on your behalf really pays off.

I'm Tanja Odzak, and I've sold over $100 million worth of homes with a decade of experience in the East Bay. Let's talk through current market data and inventory so you can plan your offer with your full costs in mind.