In West Virginia, the closing costs are what each buyer and seller pay during escrow. And, many of these fees are negotiable between the buyer and the seller. So, determining which one pays what is part of what your real estate agent helps you negotiate during the offer/acceptance time.
But, sometimes these fees and costs are determined by the county and so can vary widely.

Here are some examples of potentially negotiable items between buyer and seller:
  • Courier and delivery charges
  • Attorney fees
  • Document preparation fees
  • Escrow fees (this item is often shared between the seller and the buyer)
  • Official notary fees for witnessing document signing
  • County recording fees for filing documents with the appropriate recorder
  • County and city property taxes (for the rest of the current year or for the upcoming year)
  • New owner’s title insurance premium
  • Lender’s title insurance premium
These costs typically get covered by the buyer:
  • Appraisal for buyer’s loan qualification
  • Credit report for loan application
  • Homeowner’s insurance for fire and hazard
  • Loan origination fees
  • Processing fees
  • Private Mortgage Insurance (PMI) if your lender requires it
  • Prepaid interest — typically prorated depending on the time of the month that your loan closes
These costs typically are covered by the seller:
  • Real estate agent’s commission
  • Disclosure and hazard reports
  • Home warranty (if the seller offers one)
  • Existing encumbrances (property tax owed, liens, etc.)
  • Property inspections (sometimes shared with the buyer)
  • Pest control and termite reports
  • Repairs or damage mitigation
  • City and County transfer or conveyance tax
There may be other costs as well.

For example, if the inspection reveals necessary repairs such as the need for a new roof or foundation repair, the seller typically pays for it, but if the sale is under duress, the buyer may choose to cover it.

Is this your first home?

If you are new to real estate or haven’t sold or purchased a home in a long while, make sure you ask about any fees or charges that you do not understand. The last thing you want is to get to closing day and not be prepared. Our experts make sure that you are ready for the big day.

If you’re looking for a new home, let White Diamond help. Check out these great new homes in our market areas right now.