Who Pays Closing Costs in San Mateo County – Guide and Key Points
Who pays closing costs in San Mateo County? A property buyer and seller are responsible for paying some of the closing costs associated with a real estate transaction. There are more items you must bring to the closing table in addition to your down payment. First-time purchasers sometimes overlook the closing costs for house purchases. Some people might not be aware of the options available to them to reduce their costs. As a general rule, the sum of money spent on closing costs in California falls at around 11% of the home’s final selling price. They often consist of real estate brokerage commissions, loan fees, escrow fees, title insurance premiums, termite inspections, and other similar costs. There are various San Mateo County closing costs to consider. Your final closing costs, however, will also depend on the terms of your agreement with the seller.

Closing Costs Expected to be paid by the BUYER
The total amount of the buyer’s closing fees, including any commissions, can range anywhere from 1 to 1.5% of the total purchase price. The following are some of the higher San Mateo County closing costs that buyers may need to cover:
- Escrow Fees (if applicable or based on contract)
- Notary Fees (if applicable or based on contract)
- Roofing Inspection Fees (if applicable or based on contract)
- Termite Inspections Fees (if applicable or based on contract)
- Homeowners Association Transfer Fees (if applicable or based on contract)
- Recording Fees for all papers under the Buyer’s Name
- Title Insurance Premiums
- Fire Insurance Premium for the First Year
- Document Preparation (other than those shouldered by the seller)
- Home Warranty (if applicable or based on contract)
- City Transfer Tax (if applicable or based on contract)
- Tax Proration from Acquisition Date
- All New Loan Fees (other than those required to be covered by the seller)
- New Loan Interest Accrued from Funding Date to 30 days Before First Payment Date
Closing Costs Expected to be paid by the SELLER
Each party in a real estate transaction is responsible for covering the closing costs incurred when the property is sold or purchased. Since the seller often foots the bill for the listing agent in a transaction, the seller typically bears a higher out-of-pocket expense than the buyer. Normally, a seller will pay closing costs between 6% and 10% of the sale price. The commission is not the only cost when selling a home in San Mateo County. There is also a transfer tax of $1.10 per $1,000 in property value transferred, other smaller expenses such as a mobile notary fee of roughly $200, and in some cases, a recording fee. Here are other typical San Mateo closing costs borne by the seller in a real estate deal:
- Preparation Fee for Deed Document
- City Transfer Tax
- Escrow Fees (if applicable or based on contract)
- Notary Fees (if applicable or based on contract)
- Repayment of Loans under the Seller’s Name
- Accrued Loan Interest (if there is any)
- Termite Inspections Fees (if applicable or based on contract)
- Tax Liens and Delinquencies against the Seller
- Unpaid Homeowners Dues
- Bonds or Assessments (if there are any)
Who Pays Closing Costs in San Mateo County
For an in-depth guide about closing costs in San Mateo County, please visit our page at https://sfpeninsulahomes.com/closing-cost-sanmateo-county-ca. You may also contact us anytime if you require further assistance.