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Maple Sweet Real Estate

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      Buyer Closing Costs

      Buyer closing expenses vary depending on property value and other factors. To get a clear handle on your closing costs, conferring with your land use attorney, realtor, lender, and your tax accountant are advisable, especially if planning a 1031 exchange.

      Here's a thumbnail sketch of common buyer closing costs:

      • Deposit Monies.
      • Down payment.
      • Private Mortgage Insurance (PMI) if putting less than 20% down.
      • Loan discount points & origination fees.
      • Loan underwriting & processing fees.
      • Prepaid interest.
      • Credit report & tax service fees.
      • Flood certification fee.
      • Document preparation.
      • Property inspection.
      • Appraisal.
      • Property Transfer Tax, Vermont's property sales tax. The tax for Purchasers to use the property as their primary residence are taxed at one-half per cent on the first $100,000 of property value, and 1.45 per cent on the rest of the purchase price. Purchasers intending to use the property as a second home or investment property are taxed at 1.45 per cent on the entire purchase price. Certain exemptions exist. View the Vermont Property Transfer Tax Return.
      • Land Use Attorney fees.
      • Local tax, utility & other prorations.
      • Title & Homeowners Insurance.
      • Recording fees for documents filed at the town office.

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