Staring down closing day and wondering who pays what in Georgia? You are not alone. Closing costs can feel confusing when you are trying to budget for your first home in Sylvania or anywhere in Screven County. In this guide, you will learn what most Georgia buyers cover, what sellers often pay, what is negotiable, and how local customs can affect your bottom line. Let’s dive in.
What closing costs include
Closing costs are the fees, taxes, and prepaids you pay in addition to the purchase price to complete your home purchase. They usually include lender fees, appraisal and inspections, title work, recording fees, and prepaids like interest, property taxes, and homeowners insurance. Buyers in Georgia often see total closing costs around 2% to 5% of the purchase price. The exact number depends on your loan type, lender, title choices, and escrow requirements.
What Georgia buyers usually pay
Most buyer expenses are tied to getting a mortgage and protecting the new loan and property. Common items include:
- Loan origination and processing: Your lender’s fee to create and underwrite the loan. These vary by lender and can be negotiated or traded for a rate change.
- Discount points: Optional prepaid interest to lower your rate. You pay only if you choose the buydown, though sellers can sometimes contribute.
- Appraisal: A lender-ordered valuation to confirm the property’s value for the loan.
- Credit report fee: The cost for your lender to check your credit.
- Home inspections: General inspection plus any needed pest, septic, well, or roof checks. Rural properties in Screven County may call for more specialty inspections.
- Survey and flood certification: Verifies boundaries and flood risk, especially helpful on rural tracts or recent subdivisions.
- Title search and lender’s title insurance: Confirms clear title and protects the lender. The lender’s policy is typically paid by the buyer when there is a mortgage.
- Prepaids and escrow reserves: Interest from closing to your first payment, plus a few months of property taxes and homeowners insurance set aside in escrow.
- Mortgage insurance: Required for certain low down payment loans. Upfront and monthly costs depend on your loan program.
- Recording fees for the mortgage: County fees to record the security instrument.
What sellers usually cover
Sellers typically pay broker commissions and costs tied to delivering clear title, including paying off any existing mortgage and resolving liens. In many transactions, sellers also cover deed-related recording costs, though that is negotiable. Who pays the owner’s title policy and the settlement or closing fee varies by local custom and by contract.
What varies in Sylvania and Screven County
Local practice matters. Here is what to confirm early:
- Owner’s title insurance: There is no single statewide rule on who pays. It is market dependent and negotiable. Ask your agent or closing attorney what is typical in Sylvania.
- Settlement or closing fee: Payment is often determined by local custom. It may be paid by the buyer, seller, or split.
- County recording fees: The Screven County Clerk of Superior Court sets recording charges by instrument and page. This affects your final line items.
- Property tax prorations and escrow: Taxes are prorated at closing. Your escrow needs will reflect Screven County’s millage rate and the tax billing cycle.
- Rural inspection costs: Septic, well, water quality testing, and surveys can add to costs and may require longer lead times in rural areas.
Georgia transfer taxes and county fees
Georgia does not impose a statewide real estate transfer tax like some states do. You will still see county-level recording fees for the mortgage and, depending on negotiations, possibly the deed. Always verify the current fee schedule with the local clerk before closing.
Sample cost snapshot for a $200,000 purchase
This example shows how costs can stack up. Your numbers will be different, so rely on your Loan Estimate and Closing Disclosure for the real totals.
- Assumed buyer closing costs: About 3% of price, or roughly $6,000
- Lender fees and origination: About $1,000 to $3,000
- Appraisal: About $400 to $700
- Credit and underwriting: About $50 to $300
- Title search, lender’s policy, and closing fee: About $1,000 to $2,000, with an owner’s policy extra if you choose it
- Escrows for taxes and insurance: About $500 to $1,500, depending on local tax timing
- Prepaid interest: About $100 to $400
- Inspections and survey: About $300 to $1,000, often higher with septic and well
- Recording and misc.: About $50 to $300
The biggest chunks are usually lender charges and title related items. Escrow requirements and prepaid taxes depend on Screven County’s millage and billing cycle. Rural inspections like septic and well can add noticeably to your budget.
How to lower your out-of-pocket costs
You have options to bring your cash-to-close down.
- Shop your loan. Request Loan Estimates from a few lenders and compare line by line, not just the rate.
- Negotiate seller help. Ask for seller paid closing costs or a rate buydown, subject to loan program limits.
- Consider lender credits. Some lenders offer credits in exchange for a slightly higher rate.
- Time your closing. Closing later in the month can reduce prepaid interest.
- Choose inspections wisely. Do not skip critical ones, but coordinate to avoid repeat trips and rush fees.
Step-by-step checklist for Screven County buyers
Use this simple path to keep costs and surprises in check.
- Get preapproved and ask each lender for a Loan Estimate within three business days of application.
- Ask your agent about local custom for the owner’s title policy and closing fee so you can plan your offer.
- Confirm recording fees with the Screven County Clerk and tax due dates with the Tax Assessor or Tax Commissioner.
- Order inspections that fit the property. For rural homes, budget for septic, well, and water testing.
- Ask the seller if a recent survey exists. If not, discuss whether a new survey is smart for the lot.
- Review a preliminary title commitment early and resolve issues before you schedule closing.
- Protect your funds. Verify wiring instructions with your closing attorney by phone using a known number.
- Review your Closing Disclosure at least three business days before closing and ask questions right away.
Common mistakes to avoid
A little planning goes a long way in Sylvania and across Screven County.
- Focusing only on rate. Compare total lender fees and credits, not just the interest rate.
- Skipping key inspections. Cutting corners on septic or well checks can cost more later.
- Assuming statewide rules. Items like owner’s title policy and closing fee payment follow local custom and your contract.
- Waiting to ask about taxes. Escrow amounts and prorations hinge on county millage and billing timing.
Ready to buy in Screven County?
When you are planning your move in Sylvania or nearby, you deserve clear numbers and a steady guide from contract to keys. Our team can help you compare estimates, line up the right inspections, and coordinate a smooth closing with your lender and closing attorney. If you are ready to take the next step, reach out to Brooke Black for friendly, local guidance.
FAQs
Who pays closing costs for Georgia buyers in Screven County?
- Buyers usually pay lender related fees, appraisal, inspections, lender’s title policy, escrowed taxes and insurance, and the mortgage recording fee. Many other items are negotiable by local custom and contract.
Who pays for the owner’s title insurance in Georgia?
- There is no single statewide rule. In Sylvania and Screven County it is market dependent and negotiable, so ask your agent or closing attorney what is typical before you write your offer.
Does Georgia charge a transfer tax on home sales?
- Georgia does not impose a statewide real estate transfer tax like some states. You will still see county recording fees, so confirm current charges with the local clerk.
How much should I budget for rural inspections in Screven County?
- Plan for septic and well inspections and possible water tests in addition to a general inspection. Costs vary by provider and timing, so add several hundred dollars or more to your budget.
Can I roll closing costs into my loan?
- Sometimes. You can use lender credits or, in certain cases, finance costs if the lender and loan program allow it, but that will increase your loan balance and total interest over time.
