{"id":95895,"date":"2024-07-21T09:47:29","date_gmt":"2024-07-21T16:47:29","guid":{"rendered":"https:\/\/www.redfin.com\/blog\/?p=95895"},"modified":"2024-07-29T10:49:34","modified_gmt":"2024-07-29T17:49:34","slug":"how-much-are-closing-costs-in-oregon","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/blog\/how-much-are-closing-costs-in-oregon\/","title":{"rendered":"How Much Are Closing Costs in Oregon 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 substantial cost 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. If you’re feeling unprepared or overwhelmed, don’t worry. To help you budget for closing costs, this Redfin article will cover how much closing costs are in Oregon , who pays for them, and which costs you can expect to pay as a buyer and as a seller.<\/p>\n

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How much are closing costs in Oregon?<\/h2>\n

Before securing the keys to your new home, homebuyers will need to pay for closing costs. As a general rule of thumb, you can expect closing costs in Oregon to add up between 2%-5% of the purchase price.<\/strong> But it’s important to remember that this is just a range and the total amount will depend on numerous factors, such as the purchase price of the home, the type of loan, and any adjustments negotiated with the seller.<\/p>\n

Let’s say you’re buying a home in Portland<\/a>, where the median home sale price is $539,000. Based on this, you could expect closing costs to be between $10,780 and $26,950. Whereas if you’re buying a home in Eugene<\/a>, which has a median sale price of $468,750, closing costs could be anywhere from $9,375 to $23,438.<\/p>\n

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

Generally, both buyers and sellers can expect to 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 typically deducted from the home sale proceeds.<\/p>\n

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

For homebuyers in Oregon, you can expect to pay between 2%-5% of the home’s purchase price. If you paid earnest money, this amount will be subtracted from your closing costs, which will reduce the total amount you owe at closing. Earnest money is typically between 1%-3% of the home’s price. Below are some of the common closing costs paid for by the buyer:<\/p>\n