What Are Typical Closing Costs In Quincy?

Buying or selling in Quincy and trying to pin down what you will actually pay at the closing table? You are not alone. Closing costs can feel mysterious until you see the line items that apply to your deal. In this guide, you will learn what typical buyer and seller costs look like in Quincy, who usually pays each fee, and how to estimate your numbers before you make an offer or list your home. Let’s dive in.

What closing costs include

Closing costs are the third‑party fees, taxes, lender charges, title and attorney fees, and prorations due when a property changes hands. They are separate from the buyer’s down payment. In Massachusetts, some items are set at the state level, while local items in Quincy can include outstanding betterments, water or sewer balances, and tax prorations. Custom also matters, and many items are negotiable.

As a rule of thumb in Massachusetts:

• Buyers typically pay about 2% to 5% of the purchase price in closing costs, excluding the down payment.
• Sellers often pay the real estate commission as the largest cost. Excluding commission, seller transactional costs commonly run about 1% to 3% of the sale price.

Typical buyer costs in Quincy

Lender fees if you finance

• Origination or lender processing: often 0.5% to 1.5% of the loan amount, or a flat fee.
• Application and credit report: about $25 to $75.
• Underwriting or admin fees: roughly $300 to $1,500.
• Discount points to buy down your rate: 1 point equals 1% of the loan amount, optional.

Appraisal and inspections

• Appraisal: typically $400 to $800 or more, based on property type and complexity.
• Home inspection: usually $300 to $700, with optional add‑on tests for radon, insects, or lead.

Title and settlement

• Lender’s title insurance policy: usually paid by the buyer and priced on loan amount and state rate schedules.
• Owner’s title policy: often paid by the seller in many Massachusetts deals, but this is negotiable and can vary.
• Title search and settlement or closing agent fee: commonly $300 to $1,000.

Recording and taxes

• Recording fees to the Norfolk County Registry of Deeds: expect a few hundred dollars in total for deed and mortgage recording, depending on documents and pages.
• Massachusetts documentary or conveyance tax: often quoted as $2.28 per $500 of the sale price, about 0.456%. Payment is negotiable and may follow local custom. Confirm for your transaction.

Escrows and prepaids

• Property taxes: prorated between buyer and seller at closing. Your lender may also collect 2 to 6 months of taxes and insurance to fund your escrow.
• Homeowner’s insurance: first year premium typically paid at closing, often $700 to $2,000 or more.
• Prepaid mortgage interest: depends on your closing date and rate.

Other possible buyer costs

• Survey or stakeout if required: about $300 to $1,500 or more.
• Flood certification: about $10 to $30.
• Condo or HOA transfer and estoppel fees: typically $100 to $400.
• Private mortgage insurance and program‑specific fees for FHA or VA loans where applicable.

Typical seller costs in Quincy

Real estate commission

• The largest seller cost is the combined commission, often 5% to 6% of the sale price. It is negotiable but remains the biggest line item for most sellers.

Title, taxes, and attorney

• Owner’s title insurance policy: often paid by the seller in many Massachusetts transactions, but negotiable.
• Massachusetts documentary or conveyance tax: about $2.28 per $500 of the sale price, roughly 0.456%. Many transactions show the seller paying this, though parties can negotiate.
• Seller’s attorney and closing work: commonly $500 to $1,500 or more depending on complexity.

Payoffs, liens, and prorations

• Mortgage payoff and recording of mortgage release, plus any lender reconveyance charges.
• Municipal betterments, outstanding water or sewer charges, and unpaid property taxes must be paid at closing if applicable.
• Prorations for taxes, condo fees, and other prepaid items based on the closing date.

Other seller costs

• Settlement or closing agent fees: often $300 to $1,000 or more.
• Repair credits negotiated after inspection vary.
• Optional home warranty for buyer: typically $300 to $600.

Who usually pays what

Local practice in the Boston area provides a general guide, and you can negotiate many items:

• Buyer typically pays: lender fees, appraisal, home inspection, lender’s title policy, mortgage recording fees, escrow setup, and prepaid interest.
• Often seller pays: owner’s title policy and the state documentary tax in many Massachusetts deals. Both are negotiable, so confirm in your purchase and sale agreement.
• Everyone shares prorations: property taxes, water or sewer, and condo fees are split based on the closing date.

How to estimate your numbers

Use this simple checklist before you write an offer or sign a listing agreement:

1. Ask your lender for a Loan Estimate within 3 business days of application. It itemizes lender fees, prepaids, and escrows.
2. Request a preliminary title quote from a local title company for title premiums, settlement fees, and recording estimates.
3. Have your agent prepare a buyer estimate or seller net sheet matched to your price point and timing.
4. Check with the Quincy Treasurer or Assessor for any unpaid taxes, betterments, or local charges that could appear on the closing statement.
5. If selling, request a mortgage payoff quote early. It includes daily interest and any lender fees.
6. Compare Loan Estimates from multiple lenders. Fees and points vary.
7. Account for prorations that depend on timing, such as quarterly tax cycles and condo fees.
8. Confirm who will pay the owner’s title policy and how the documentary tax will be allocated in your deal.

Local items to verify in Quincy

• Norfolk County Registry of Deeds recording schedules and page‑based fees can change. Always confirm current recording charges before closing.
• Quincy municipal charges may include water and sewer balances, property tax cycles, and betterments. Ask the Treasurer or Assessor’s office how these will be handled.
• Condominiums often require estoppel or resale documents, transfer fees, and notice periods. Your association or management company will provide amounts and timing.

Quick examples to budget

These examples are illustrative only. Your exact numbers depend on your loan, credits, escrow setup, and the timing of your closing.

Buyer examples

• $400,000 purchase price: typical buyer closing costs about 2% to 5% equals roughly $8,000 to $20,000, excluding down payment.
• $650,000 purchase price: about $13,000 to $32,500 at 2% to 5%.
• $900,000 purchase price: about $18,000 to $45,000 at 2% to 5%.

Seller examples

• $650,000 sale price: commission at 6% is $39,000. Other seller closing costs often run 1% to 3% or $6,500 to $19,500, plus the state documentary tax of about $2,964 at 0.456% if allocated to seller.
• $900,000 sale price: commission at 6% is $54,000. Other seller costs often 1% to 3% or $9,000 to $27,000, plus the state documentary tax of about $4,104 if allocated to seller.
• $400,000 sale price: commission at 6% is $24,000. Other seller costs often 1% to 3% or $4,000 to $12,000, plus the state documentary tax of about $1,824 if allocated to seller.

Tips to keep costs in check

• Shop lenders and compare Loan Estimates line by line. Ask about lender credits and the cost of points.
• Negotiate seller credits toward buyer closing costs where allowed by your loan program.
• Time your closing to manage prepaid interest and escrow deposits.
• Request a title quote early and review settlement fees and owner or lender policy options.
• Check for municipal betterments or balances upfront so there are no surprises the week of closing.

What we need to prepare your estimate

Want a clear number before you act? Share the following for a quick, personalized estimate:

• Target purchase or list price
• Loan type and down payment, or your current mortgage payoff if selling
• Whether the property is a condo or single‑family
• Planned closing month and any known credits or concessions
• Known municipal items, such as betterments or special assessments

Ready to map out your closing costs and next steps in Quincy? Schedule a free consultation with Matthew Langlois for a tailored buyer estimate or seller net sheet.

FAQs

Who pays the Massachusetts documentary tax in Quincy closings?

• The state documentary or conveyance tax is about $2.28 per $500 of price, and payment is often negotiable with many transactions showing the seller paying; confirm with your Quincy title company or attorney.

How much are buyer closing costs in Quincy, Massachusetts?

• Buyers often budget 2% to 5% of the purchase price for closing costs, excluding the down payment, with totals driven by loan fees, escrows, and whether you pay points.

Can a seller pay a buyer’s closing costs in Quincy?

• Yes, sellers can provide credits toward buyer closing costs within loan program limits; work with your lender and agent to structure it correctly.

When will I know my final closing costs for a Quincy home?

• Your lender must give you a Loan Estimate within 3 business days of application and a Closing Disclosure at least 3 business days before closing, with title and attorney figures finalized near closing.

Are Quincy closing costs different from other Massachusetts towns?

• Many fees are state or registry driven, but Quincy items like betterments, municipal charges, and proration timing can change your totals, so verify local specifics early.