Are you trying to pin down what closing will actually cost you in Tarrytown? You are not alone. In Austin, who pays what often follows local custom and negotiation, which can make budgeting feel fuzzy. In this guide, you will see plain-English line items for buyers and sellers, two Tarrytown-style examples, Texas and Travis County specifics, and an easy checklist to keep surprises off your plate. Let’s dive in.
Austin closing cost basics
Closing costs in Austin are driven by custom more than law. In Travis County, sellers typically pay broker commissions and the owner’s title insurance policy, while buyers usually cover lender-related fees and their own closing costs. Many items are negotiable, and prorations for property taxes, HOA dues, and utilities are settled at closing based on the closing date.
- Typical buyer closing costs: about 2% to 5% of the purchase price. Your loan type, rate points, and prepaids will sway the total.
- Typical seller costs: broker commissions commonly around 5% to 6% of the sale price, plus seller-side items like the owner’s title policy and prorations. Sellers often spend 6% or more before mortgage payoff.
- No Texas real estate transfer tax. If you are relocating from a state that charges one, this line item will not appear here.
Key documents set the numbers you will actually pay. Buyers receive a Loan Estimate within 3 business days of loan application and a final Closing Disclosure at least 3 business days before closing. Sellers should request a detailed net sheet early, then a final closing statement from the title company.
Buyer costs in Austin
Buyers in Tarrytown typically pay lender-driven and closing expenses. Here is what to expect:
- Loan origination and lender fees: often 0.25% to 1.5% of the loan amount or flat fees.
- Discount points (optional): 1 point equals 1% of the loan amount to lower the rate. Sellers can agree to cover points as a concession.
- Appraisal: usually 500 to 1,200 dollars or more depending on property complexity.
- Credit report: about 25 to 50 dollars.
- Lender’s title insurance policy: buyer typically pays this policy that protects the lender.
- Title and settlement fees: commonly a few hundred dollars. Splits vary by title company and are negotiable.
- Recording fees: generally tens to low hundreds.
- Survey: often 300 to 1,200 dollars if required. A seller-provided survey may be acceptable if the title company approves it.
- Inspections: 300 to 900 dollars for general inspection, plus optional pest or specialty inspections.
- Prepaids and escrows: first-year homeowner’s insurance, prepaid interest, and initial deposits for property tax and insurance escrows.
- HOA transfer and estoppel fees: often 100 to 400 dollars if the property is in an HOA.
Remember that your down payment is separate from closing costs. Your Loan Estimate will show line-by-line figures based on your loan program, rate lock, and timing.
Seller costs in Austin
Sellers in Tarrytown usually cover the marketing and ownership protection side of the ledger. Expect:
- Broker commissions: commonly around 5% to 6% of the sale price. This is typically the largest seller expense.
- Owner’s title insurance policy: in Texas custom, the seller often pays for the owner’s policy that protects the buyer.
- Payoff of existing loans: principal, accrued interest, and any lender fees.
- Recording and courier fees: small county and title charges to finalize the transaction.
- Prorations: property taxes and HOA dues are split based on the closing date.
- Repair costs or credits: negotiated during the option period after inspections.
- Home warranty: if agreed, often 300 to 700 dollars.
Ask your agent or title company for a seller net sheet early. It will estimate proceeds, including potential repair scenarios and payoff figures, so you can plan with clarity.
Tarrytown examples (hypothetical)
Example numbers are illustrative — get an itemized Loan Estimate and Closing Disclosure.
Example A: First-time buyer at 600,000
Scenario: a Tarrytown condo or smaller single-family home. Purchase price 600,000 dollars. Conventional loan at 80% loan to value (loan amount 480,000 dollars).
Buyer closing costs (illustrative):
- Loan origination fee at 1.0%: 4,800 dollars
- Appraisal: 600 dollars
- Credit report: 50 dollars
- Lender’s title policy: 900 dollars
- Title and escrow fee share: 500 dollars
- Recording fees: 150 dollars
- Survey or survey review: 400 dollars
- Home inspection: 450 dollars
- Prepaid homeowner’s insurance first year: 1,200 dollars
- Prepaid interest: about 500 dollars
- HOA estoppel or transfer fee: 250 dollars
- Subtotal for fees and prepaids: about 9,800 dollars
- Cash to close also includes the down payment at 20% (120,000 dollars). If you pay discount points, add 4,800 dollars per point.
Seller costs (illustrative):
- Broker commission at 6%: 36,000 dollars
- Owner’s title policy: 1,200 dollars
- Prorations for taxes and HOA: assume 1,500 dollars
- Payoff and recording fees: varies by loan payoff
- Subtotal before mortgage payoff: about 38,700 dollars
Example B: Move-up buyer at 1,400,000
Scenario: a Tarrytown single-family home. Purchase price 1,400,000 dollars. Conventional loan at 80% loan to value (loan amount 1,120,000 dollars).
Buyer closing costs (illustrative):
- Loan origination fee at 1.0%: 11,200 dollars
- Appraisal for higher-value home: 1,200 dollars
- Credit report: 50 dollars
- Lender’s title policy: 2,000 dollars or more
- Title and escrow fee share: 700 dollars
- Recording fees: 200 dollars
- Survey or plat review: 700 dollars
- Inspections, including specialty: 1,200 dollars
- Prepaid homeowner’s insurance: 1,800 dollars
- Prepaid taxes and escrow: assume 3,000 dollars
- Subtotal for fees and prepaids: about 22,850 dollars
Seller costs (illustrative):
- Broker commission at 6%: 84,000 dollars
- Owner’s title policy: 2,800 dollars
- Prorated taxes, HOA, other credits: 3,000 dollars
- Negotiated repair credit: 5,000 dollars
- Subtotal before mortgage payoff: about 94,800 dollars
Texas and Travis County specifics
- Title insurance: Texas custom often has the seller purchase the owner’s title policy, while the buyer pays for the lender’s policy if there is a mortgage. Premium schedules are regulated by the Texas Department of Insurance. Endorsements and some services are additional.
- Property taxes: Travis County property taxes are significant. Taxes are prorated at closing according to the date you close. Use your title company and the Travis Central Appraisal District for the specific tax year rate.
- HOA communities: Many central Austin properties have HOAs. Estoppel and transfer fees can be a few hundred dollars and should be requested early.
- Surveys: Sellers may provide an existing survey. If not, buyers often order a new one. Costs vary by lot size and complexity in Tarrytown.
- TREC contracts and option period: Texas uses TREC forms. The option period allows buyers to inspect the home and negotiate repairs or credits. What you negotiate affects your bottom line at closing.
- Closing method: Title companies act as escrow agents and issue your ALTA or similar closing statement. They also handle recording with the county.
Key documents and timing
- Loan Estimate: due within 3 business days after loan application. Compare lenders on rate, APR, points, and fees.
- Closing Disclosure: must be delivered at least 3 business days before closing. Review carefully and ask about any changes.
- Seller net sheet: get one early and update it as terms change. Ask your title company for a final settlement statement before closing day.
- Title commitment: review exceptions, liens, and HOA covenants. Ask questions early to avoid delays.
- Typical timeline: 30 to 45 days from contract to close, depending on loan, appraisal, and any repairs. Appraisal and underwriting commonly take 1 to 3 weeks. Inspections usually happen during a 7 to 10 day option period, though terms are negotiable.
Your lender checklist
- Request a Loan Estimate from at least two lenders. Compare origination fees, rate, APR, points, and total closing costs.
- Ask about rate locks. How long is the lock and what does it cost?
- Clarify which fees you pay versus what a seller credit could cover. Get exact amounts.
- Confirm how much will be collected for tax and insurance escrows at closing.
- Ask for a sample Closing Disclosure early and an explanation of any changes from the Loan Estimate.
- Compare discount points and lender credits. How do they change your monthly payment and cash to close?
Your agent and title checklist
- Request an itemized buyer cost worksheet for your contract and a seller net sheet if you are selling.
- Confirm who pays the owner’s title policy in your deal and ensure the contract reflects it.
- Ask for the title commitment and a plain-language explanation of any exceptions.
- For HOA properties, clarify the estoppel fee amount, who orders it, and the timeline.
- Confirm whether the seller will provide a survey. If not, ask for a quote for a new survey for your specific lot.
- Decide how any inspection items will be handled. Credit versus repair changes the numbers on the closing statement.
- Ask which title company will close and request a sample ALTA or Closing Disclosure in advance.
Documents to request
- Loan Estimate and final Closing Disclosure from your lender.
- Seller net sheet and payoff statement from your agent or title.
- Title commitment and any existing survey from title.
- HOA estoppel and governing documents, if applicable.
- TREC Seller’s Disclosure and all inspection reports.
- Final closing statement at least 3 business days before closing.
Practical tips to avoid surprises
- Review your Closing Disclosure line by line. Ask for written explanations of any variance over 100 to 200 dollars from your Loan Estimate.
- Start HOA and title items early. Estoppels and title exceptions can take time to clear.
- Put seller credits in writing in the contract and confirm how they will appear on the Closing Disclosure.
- Confirm in writing who pays the owner’s title policy. Custom can differ deal to deal.
- As a seller, run multiple net sheet scenarios. Build in a cushion for potential repair credits.
How to negotiate costs
- If you need to lower cash to close, consider asking for seller credits to cover permissible closing costs. Your lender can confirm which items qualify.
- Compare paying discount points versus a lender credit. This is a tradeoff between monthly payment and upfront cash.
- Clarify survey responsibility early. A seller-provided, acceptable survey can save time and money.
- Use the option period to line up estimates for repairs. Credits may be cleaner than work completed before closing.
Ready for local guidance?
Tarrytown’s homes and lots vary widely, which means closing costs can, too. If you want a calm, clear process with itemized numbers and timely updates, we are here to help. Connect with Local Color’s owner-led team for neighborhood-smart strategy and high-touch service from offer to funding. Reach out to the boutique team at Local Color Realty Group when you are ready to get started.
FAQs
What are typical buyer closing costs in Tarrytown Austin?
- Buyers often spend about 2% to 5% of the purchase price on closing costs, excluding the down payment, with totals driven by loan fees, rate points, and prepaids.
Who usually pays for title insurance in Austin closings?
- Texas custom often has the seller pay for the owner’s title policy while the buyer pays for the lender’s policy, but your contract determines the final allocation.
Are there real estate transfer taxes in Texas closings?
- No state transfer tax applies in Texas, and local transfer taxes are not typical in Travis County, so you should not see this line item.
How are Travis County property taxes handled at closing?
- Property taxes are prorated based on the closing date, so each party pays their share for the time they owned the property during the tax year.
What is the Texas option period and why does it matter?
- The option period is a negotiated window for inspections and repair talks; any credits or repairs you agree to will change the final numbers on the closing statement.
When will I see my final closing costs as a buyer?
- Your lender must deliver a Closing Disclosure at least 3 business days before closing, which you should compare to your earlier Loan Estimate.
What seller costs should I budget for besides commission?
- Plan for the owner’s title policy, prorated taxes and dues, potential repair credits, small title and recording fees, and your loan payoff if you have a mortgage.
