Buying in Greer and wondering what your closing bill will look like? You are not alone. Understanding who pays what, how fees add up, and what you can negotiate will help you plan with confidence and avoid last‑minute surprises. In this guide, you will learn typical South Carolina customs, Greer-specific considerations, and clear examples at common price points. Let’s dive in.
What buyers pay in South Carolina
Most buyer closing costs fall into four buckets. Your exact mix depends on your loan, lender, and the property.
- Loan origination and lender fees. These can include an application fee, origination points, underwriting, and processing.
- Third-party lender costs. Think appraisal, credit report, flood certification, and tax-service verifications.
- Title and closing services. Title search, settlement or closing fee, notary, and the lender’s title insurance policy.
- Recording, prepaids, and escrows. Deed and mortgage recording, prepaid homeowner’s insurance, daily interest from closing to first payment, and an initial escrow deposit for taxes and insurance.
Other common items:
- Inspections and surveys. Home inspection, pest or septic, radon, and surveys if your lender requires them. Many are paid before closing.
- Mortgage insurance and upfront program charges. FHA UFMIP, VA funding fee, and any upfront PMI charges depend on your loan program.
- HOA or POA items. Estoppel or certification fees, transfer fees, and any required upfront dues vary by association.
What sellers usually cover
Sellers typically pay real estate broker commissions, payoff of any mortgages or liens, prorated property taxes and HOA dues for their time of ownership, and agreed settlement or attorney fees. In South Carolina, it is common for the seller to pay for the owner’s title insurance policy. The buyer customarily pays the lender’s title policy and loan-related title fees. All of this is negotiable and should be confirmed in your contract and with the closing attorney or title company.
How closing costs are calculated
Closing costs include a mix of flat fees and percentage-based charges. Appraisals, credit reports, and many inspections are flat fees. Title insurance and some lender fees scale with price or loan amount.
- A reasonable planning range for buyer closing costs is about 2% to 5% of the purchase price, not including your down payment.
- Your lender may also collect an initial escrow deposit equal to a few months of expected taxes and insurance. This varies by lender and timing.
Your total cash to close follows a simple formula:
- Cash to close = down payment + buyer closing costs + prepaids and escrows − any seller or lender credits.
You will see an estimated breakdown on your Loan Estimate within 3 business days of applying for a mortgage, and your final numbers on the Closing Disclosure at least 3 business days before closing. Compare them line by line and ask about any changes.
Loan program differences that affect costs
Your loan type can change both the amount you bring and what a seller can pay on your behalf.
- Conventional. No upfront mortgage insurance premium. Private mortgage insurance rules and any upfront PMI vary with your down payment and loan-to-value.
- FHA. Upfront Mortgage Insurance Premium is typically 1.75% of the base loan amount. It is often financed into the loan. Monthly MIP applies.
- VA. A one-time funding fee usually applies unless you are exempt. VA sets limits on certain concessions and what sellers can pay.
- USDA. Guarantee fees apply and affect cash to close. Your lender can detail the exact structure.
Ask your lender how each program affects your upfront fees, monthly costs, and the maximum seller concessions allowed.
Greer examples: cash to close
These Greer-focused examples are illustrative estimates. Exact amounts depend on your lender, closing attorney, and the day you close. Always request a written Loan Estimate and a title fee worksheet.
Entry-level example at $250,000
- Down payment options:
- 3% down: $7,500
- 20% down: $50,000
- Estimated buyer closing costs: 2.0% to 4.0% of price, or about $5,000 to $10,000
- Typical initial escrow deposit example: $1,000 to $3,000
- Example cash to close:
- 3% down with lower closing costs: about $14,000 (down payment $7,500 + closing costs $5,000 + escrows about $1,500)
- 20% down with higher closing costs: about $61,500 (down payment $50,000 + closing costs $10,000 + escrows about $1,500)
Note: If using FHA, add the upfront MIP of about 1.75% of the base loan amount. This is often financed rather than paid in cash.
Move-up example at $400,000
- Down payment options:
- 5% down: $20,000
- 20% down: $80,000
- Estimated buyer closing costs: about $8,000 to $16,000
- Typical initial escrow deposit example: about $2,500
- Example cash to close:
- 5% down with mid-range costs: about $34,500
- 20% down with lower costs: about $90,500
Higher-end example at $600,000
- Down payment options:
- 10% down: $60,000
- 20% down: $120,000
- Estimated buyer closing costs: about $12,000 to $24,000
- Typical initial escrow deposit example: about $3,500
- Example cash to close:
- 10% down with mid-range costs: about $81,500
- 20% down with lower costs: about $135,500
What these examples do not include: any seller-paid credits, lender credits, or negotiated repairs. Those can reduce your cash to close. Your final number will also reflect exact Greenville County tax prorations and any HOA transfers due at closing.
Local notes for Greenville County
- Recording and local fees. The county sets recording fees for deeds and mortgages. Ask your closing attorney for the current Greenville County schedule.
- Property tax proration. Most closings prorate taxes between buyer and seller based on the day of closing. Confirm dates and methods with your title company and the county tax offices.
- HOA and POA items. Many Greer neighborhoods have associations. Estoppel or certification fees and transfer charges are common and vary by community.
- Title insurance custom. It is common for the seller to pay the owner’s title policy. Buyers typically pay the lender’s title policy and loan title fees. This is negotiable.
What’s negotiable in Greer
Several items can be negotiated in your offer. Your loan program sets limits, so check with your lender before you write.
- Seller-paid closing costs. You can ask the seller to cover specific fees or a set amount toward your costs, subject to program limits.
- Owner’s title insurance. While sellers often pay, you can confirm or negotiate this in the contract.
- Repairs versus credits. You can request a credit at closing in place of repairs, which can lower your cash to close.
- Points and rate buydowns. You can negotiate who covers discount points.
- HOA transfer and estoppel fees. Clarify who pays these in your offer.
In a competitive market, sellers may offer fewer concessions. In a slower market, you may have more room to ask for help with costs.
Checklist before you close
Use this quick list to keep your numbers accurate and on time.
With your lender
- Confirm your exact loan type and any upfront fees such as FHA UFMIP, VA funding fee, or USDA guarantee fee.
- Request a detailed Loan Estimate that shows lender fees, points, appraisal, credit report, and title-related charges the lender requires.
- Ask how your estimated cash to close is calculated and what could change it.
- Review escrow requirements and the expected initial deposit amount.
- Verify seller concession limits for your program and occupancy type.
- Clarify mortgage insurance costs and whether any portion is due at closing.
With the title company or closing attorney
- Ask for the Greenville County title fee schedule and both lender’s and owner’s title insurance premiums.
- Confirm deed and mortgage recording fees for Greenville County.
- Verify who is paying for the owner’s title policy in your deal.
- Request estimated prorations for property taxes and HOA dues and a sample settlement statement.
- Ask when you will receive the Closing Disclosure. It must arrive at least 3 business days before closing.
With your real estate agent
- Confirm which closing costs the seller has agreed to pay in the contract.
- Review HOA or POA transfer and estoppel fees and who is responsible.
- Document any credits for repairs instead of completed repairs.
- Discuss timeline risks that could affect costs, such as late tax bills or additional payoff items.
Documents to collect and compare
- Loan Estimate, 3 business days after application
- Purchase contract, showing any seller concessions
- Title fee worksheet or settlement estimate
- Closing Disclosure, at least 3 business days before closing
- HOA estoppel or financial statement and any transfer forms
Final thoughts and next steps
When you understand the moving parts of closing costs, you can write a cleaner offer, avoid surprises, and keep your Greer purchase on track. Start by comparing your Loan Estimate to your Closing Disclosure and asking for written explanations of any changes. Then confirm local items like recording fees, HOA transfers, and tax prorations with your closing team.
If you want a clear plan for your Greer purchase, reach out to Linda O'Brien. You will get local guidance, organized timelines, and help negotiating the right mix of credits and costs.
FAQs
What are typical buyer closing costs in Greer?
- A practical planning range is about 2% to 5% of the purchase price before down payment, plus prepaids and initial escrow deposits that your lender will estimate.
Who pays owner’s title insurance in South Carolina?
- It is common for the seller to pay the owner’s title policy, while the buyer pays the lender’s title policy and loan title fees. This is negotiable and should be confirmed in your contract.
How do Greenville County tax prorations work at closing?
- Taxes are typically prorated between buyer and seller based on the day of closing and the county’s tax calendar; your closing attorney will calculate the exact credit or charge.
How can I lower my cash to close as a Greer buyer?
- Ask for seller credits where allowed, compare lender options and fees, consider lender credits or a rate buydown, and use inspection findings to negotiate closing credits instead of repairs.
What do the Loan Estimate and Closing Disclosure include?
- The Loan Estimate outlines expected fees and cash to close within 3 business days of application; the Closing Disclosure provides final numbers at least 3 business days before closing so you can compare and ask questions.
