{"id":95872,"date":"2024-07-16T12:47:24","date_gmt":"2024-07-16T19:47:24","guid":{"rendered":"https:\/\/www.redfin.com\/blog\/?p=95872"},"modified":"2025-02-21T15:21:06","modified_gmt":"2025-02-21T23:21:06","slug":"how-much-are-closing-costs-in-california","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/blog\/how-much-are-closing-costs-in-california\/","title":{"rendered":"How Much Are Closing Costs in California 2024?"},"content":{"rendered":"

It’s no secret that buying a home is a huge financial decision, and there’s a lot more to consider than just the price of the home. Another important expense to consider when you’re buying a home is how much closing costs will be.<\/p>\n

Closing costs are the taxes and fees associated with the purchase and sale of a home, such as title insurance and lender fees. Let’s break down how much closing costs are in California, who pays for them, and what costs you can expect to pay as a buyer and as a seller.<\/p>\n

\"laguna<\/p>\n

How much are closing costs on average in California?<\/h2>\n

In addition to the down payment, homebuyers will also need to pay closing costs before securing the keys to their new home. Generally, you can expect closing costs in California to add up between 2%-5% of the purchase price.<\/strong> However, keep in mind that closing cost amounts vary depending on several factors – such as the purchase price of the home, the type of loan, and any adjustments negotiated with the seller.<\/p>\n

For example, if you’re buying a home in Los Angeles<\/a>, which has a median sale price of $1,050,000, closing costs could range anywhere from $21,000 to $52,500. Or, let’s say that you’re buying a home in San Francisco<\/a>, which has a median sale price of $1,403,500. Closing costs for a home here could cost you anywhere between $28,070 and $70,175.<\/p>\n

Who pays closing costs in California?<\/h2>\n

So, who pays for closing costs in California? In most transactions, both the buyer and seller will pay closing costs. But the buyer and seller will pay for different closing costs and likely have different total closing cost amounts. Another thing to keep in mind is that buyers typically pay for closing costs out of pocket, while the seller’s closing cost payments are often deducted from the home sale proceeds.<\/p>\n

Buyer closing costs in California<\/h2>\n

For homebuyers in California, you can expect closing costs to range 2%-5% of the purchase price. In most cases, you’ll pay earnest money, typically 1% to 3% of the home price, upon reaching mutual acceptance in your home purchase. This deposit is subtracted from your closing costs, reducing the total amount due at closing. Below are some of the common closing costs paid for by the buyer:<\/p>\n