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If you’re buying or selling a home in Ohio, understanding closing costs ahead of time helps eliminate surprises and keeps your budget on track. Here’s a simple and friendly breakdown of what you can expect across the Buckeye State.
What Are Closing Costs?
Closing costs are the fees and expenses paid when a real estate transaction is finalized. They’re separate from your down payment and include lender charges, title services, taxes, and prepaid items.
Both buyers and sellers share in these costs, but who pays what varies by region and contract.
Closing Costs for Buyers in Ohio
Ohio buyers typically pay about 2%–4% of the home’s price in closing costs.
Example: For a $400,000 home, buyer closing costs usually range from $8,000–$16,000.
Common Buyer Closing Costs Include:
- Loan origination and lender fees
- Appraisal and credit report
- Title insurance (commonly buyer-paid in many Ohio counties)
- Recording fees
- Survey fees (if required)
- Prepaid insurance and taxes
Ohio property taxes vary widely by county, so prepaid tax escrows can differ significantly depending on where you’re purchasing.
Closing Costs for Sellers in Ohio
Sellers in Ohio typically pay around 1%–3% of the sale price in closing costs, not including agent commissions.
Example: On a $400,000 home, expect roughly $4,000–$12,000.
Common Seller Closing Costs Include:
- Title services and settlement fees
- Owner’s title insurance (paid by the seller in some counties)
- Transfer taxes (varies by municipality)
- Prorated property taxes
- HOA fees, if applicable
- Real estate agent commissions (usually 5%–6%)
Local customs differ throughout Ohio, so who pays for certain title costs may change from county to county.
Why New Construction Offers More Predictability in Closing Costs
Closing costs for new construction homes are generally fixed at the time of purchase, unlike resale homes where they can vary. Builders frequently offer incentives, including contributions toward closing costs, to help ease the financial burden for buyers.
The Bottom Line
- Buyers: Budget 2%–4% of the purchase price
- Sellers: Expect 1%–3%, plus agent commissions
- Everyone: Local customs matter — costs can change from one county to the next
If you're looking for guidance with your mortgage or want help understanding your closing costs, M/I Financial makes the process smoother and more transparent. Our team provides personalized loan options, competitive rates, and step-by-step support so you feel confident from application to closing. (NMLS# 50684)
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