What Closing Costs Should Buyers And Sellers Plan For?

Ready to stop guessing what you’ll owe on closing day? We dig into the dollars that rarely make the listing sheet—earnest money, inspections, appraisals, title insurance, lender fees, prepaids, and escrow reserves—and show how to predict them with a simple 2 percent rule of thumb. With four decades of experience guiding military families and local buyers, Lori Thompson walks through real examples on a $500,000 home and explains when it makes sense to negotiate seller credits that trim thousands off your upfront cash.

We also flip the script for sellers. You’ll learn how commissions and buyer‑agent co‑op offers affect traffic and net proceeds, what to budget for title insurance and closing fees, and how to handle repair requests without derailing your sale. With rates still elevated, Lori breaks down the 2‑1 buydown—lower payments in year one and two, then the note rate—and why sellers are often the ones funding that credit. She even shares a smart counter strategy: adjust price to cover concessions while keeping the appraisal supported by solid comps.

Market conditions decide who pays what, but preparation decides who wins. We talk timing for earnest money, why a sewer scope can save you thousands, how prepaids differ from fees, and when programs like CHAFA can ease cash pressure for first‑time buyers. Whether you’re budgeting as if no credits will come or mapping a seller net sheet before you list, this guide helps you walk to the table calm and confident.

If this helped clarify your path to closing, follow the show, share it with a friend who’s house hunting, and leave a quick review with your biggest closing‑cost question so we can tackle it next.

To learn more about RE/MAX Properties Inc. visit:
https://www.LoriThompson.REMAX.com
RE/MAX Properties Inc.
Colorado Springs
719-332-1807