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What’s the truth about Closing Costs in Delaware?

July 22, 2017

Story Location:
1504 Savannah Road
Lewes  Delaware  19958
United States

What’s the truth about Closing Costs in Delaware? The cost to purchase your new home can vary greatly depending on the closing costs and various fees associated with the particular community or municipality. Do you know that if you buy or sell an existing home in Delaware, it is tradition that certain closing or settlement costs are split between the parties?

But let’s start at the beginning, which costs are paid by the Seller and which are paid by the Buyer before and during settlement?

The Sellers’ Closing Costs

When you sell your home in Delaware, you are responsible for:

  • The total real estate commission that may then be split between the listing brokerage and the buyers’ broker.
  • The cost of any repairs that need to be made as a result of the home inspection.
  • Half of the Transfer Tax (3% of the purchase price) which is 1 1/2% of the purchase price.
  • Deed Preparation.
  • Any applicable wiring fees related to mortgage satisfaction.
  • The costs of any POA (Power of Attorney) if required.
  • If the Sellers’ property has a septic system, the full cost of inspection by Class F & Class H certified Septic Inspector.

The Buyers’ Closing Costs

When you are purchasing a home in Delaware, you are responsible for:

- See more at: http://blog.activeadultsdelaware.com/2015/12/18/ask-the-broker-the-truth-about-closing-costs-in-delaware/#sthash.V0KqC2gi.dpuf

But let’s start at the beginning with The Sellers’ Closing Costs. When you sell your home in Delaware, you are responsible for:

  • The total real estate commission that may then be split between the listing brokerage and the buyers’ broker.
  • The cost of any repairs that need to be made as a result of the home inspection.
  • Half of the Transfer Tax (3% of the purchase price) which is 1 1/2% of the purchase price.
  • Deed Preparation.
  • Any applicable wiring fees related to mortgage satisfaction.
  • The costs of any POA (Power of Attorney) if required.
  • If the Sellers’ property has a septic system, the full cost of inspection by Class F & Class H certified Septic Inspector.

Read on to learn about which costs are paid by the Buyer when purchasing a home in Delaware at http://blog.activeadultsdelaware.com/2015/12/18/ask-the-broker-the-truth-about-closing-costs-in-delaware/

We focus on our clients - the 65,000 Baby Boomers, or at least the ones that would like to live in Delaware or already do. We Specialize In Buyer Representation of New Homes and Resale Homes in Delaware.

✔Active Adult Communities
✔Waterfront Communities
✔Golf Communities
✔In-town and Historic Districts

For more information regarding this property or any other properties in Delaware, visit www.activeadultsrealty.com or contact Active Adults Realty at 302-424-1890, or via email to
Broker@ActiveAdultsRealty.com