Cary Closing Costs Breakdown for Today’s Homebuyers

Are you budgeting for a home in Cary and wondering what closing day will really cost? You are not alone. Many buyers focus on the down payment and are surprised by the separate fees and prepaids due at the finish line. In this guide, you will learn what closing costs are, what buyers typically pay in Cary and Wake County, how much to budget at different price points, simple ways to lower your cash to close, and a fill‑in worksheet to personalize your numbers. Let’s dive in.

What closing costs include

Closing costs are the fees, taxes, prepaids, and third‑party charges needed to complete your purchase. They are separate from your down payment and from ongoing costs like property taxes and insurance.

In North Carolina, buyers usually pay lender fees, inspections, appraisal, title services and insurance, settlement or attorney charges, recording fees for their mortgage, and prepaids for taxes and insurance. Sellers usually cover broker commissions, their mortgage payoff, deed recording or transfer items, prorated taxes, and any agreed credits or repairs. Some items are negotiable, so who pays can shift based on your contract.

Buyer costs in Cary: typical items

Below are common buyer line items with typical ranges. Actual fees vary by lender, attorney, property type, and timing.

• Loan origination and lender fees: often 0% to 1% of the loan amount. You may see flat fees instead. Some lenders offer credits in exchange for a higher rate.
• Appraisal: typically $450 to $850 for a single‑family home, depending on size and complexity.
• Home inspection(s): general inspection often $300 to $600. Add‑ons like radon $150 to $300 and pest $75 to $150 if needed.
• Title search, exam, and title insurance: title and settlement fees are often several hundred dollars. The lender’s title policy is usually a buyer cost. The owner’s policy is negotiable.
• Settlement or attorney fee: commonly $250 to $800. Many NC closings use a closing attorney or licensed title company.
• Recording fees: county fees to record your mortgage and related documents. Usually modest flat amounts per document.
• Survey if required: often $350 to $1,000 or more based on lot size and complexity.
• HOA transfer or document fees: commonly $100 to $400, contract dependent.
• Prepaid items and escrows: upfront funding for homeowner’s insurance and property taxes. Lenders may collect several months of each. Totals depend on tax rate and insurance premium.
• Upfront PMI if applicable: some loans allow a one‑time premium or you may pay PMI monthly instead.
• Miscellaneous: small charges like courier, wire, or flood certification, often $20 to $150 total.

Who pays what is negotiable

Local practice in North Carolina allows for negotiation. The owner’s title policy can be paid by either party. Buyers can ask for seller credits toward closing costs, subject to loan program limits. Settlement fees may be split. Spell out these terms in your offer.

How much to budget

As a rule of thumb, buyer closing costs in Cary often total about 2% to 5% of the purchase price. The low end assumes minimal lender fees and smaller prepaids. The high end assumes larger escrow deposits, multiple inspections, and buyer‑paid owner’s title insurance.

Examples using that range:

• $300,000 home: about $6,000 to $15,000
• $450,000 home: about $9,000 to $22,500
• $650,000 home: about $13,000 to $32,500
• $1,000,000 home: about $20,000 to $50,000

These are estimates. Your exact number depends on your loan terms, closing date, local tax and insurance amounts, and negotiated items.

Prepaids and escrows in Wake County

Your lender may set up an escrow account to pay property taxes and homeowner’s insurance. At closing, you could prepay the first year of insurance and deposit a few months of taxes and insurance into escrow. The amount depends on Wake County tax rates, your home’s value, the closing date, and your insurance premium. Taxes are prorated at closing based on who owns the home on key tax dates and on the terms in your contract.

Get your exact number

Use these steps to replace estimates with real figures for your Cary purchase:

1. Request a Loan Estimate from your lender. Lenders must provide this within three business days after application. It lists your projected closing costs and cash to close.
2. Ask your closing attorney or title company for a preliminary quote. Include title search, title insurance, settlement fee, and Wake County recording charges.
3. Check tax and insurance inputs. Use the home’s assessed value or price to estimate taxes, and get an insurance quote for the specific property.
4. Add property‑specific items. Include HOA transfer fees, a survey if required, and any specialized inspections.
5. Confirm timing. Your closing date affects tax proration and escrow deposits, which can change cash to close.

Ways to lower cash to close

• Ask for seller credits. You can request the seller contribute toward your closing costs. Your loan type and down payment will set the cap.
• Compare lenders. Shop Loan Estimates to compare rates and fees. Ask about lender credits versus interest rate trade‑offs and long‑term cost.
• Negotiate title and settlement fees. In some cases, these fees are split or reduced. The owner’s title policy is negotiable.
• Plan your timing. Escrow requirements can change with your closing date. Ask your lender how timing affects your deposits.

Buyer closing cost worksheet

Use this checklist to build your Cary estimate. Replace each bracket with your numbers.

• Property price: $[enter purchase price]

Buyer costs:

1. Loan origination fee (enter $ or %): $[ ]
2. Appraisal: $[ ]
3. Home inspection(s): $[ ]
4. Title search and exam fee: $[ ]
5. Lender’s title insurance: $[ ]
6. Owner’s title insurance (buyer‑paid portion): $[ ]
7. Settlement or attorney fee (buyer): $[ ]
8. Recording fees (mortgage): $[ ]
9. Survey if required: $[ ]
10. HOA transfer or documents: $[ ]
11. Prepaid homeowner’s insurance: $[ ]
12. Initial escrow deposit for taxes (2–6 months): $[ ]
13. Upfront PMI if applicable: $[ ]
14. Miscellaneous (courier, wire, flood cert): $[ ]

• Buyer closing cost subtotal: $[ ]
• As a percent of price: (subtotal ÷ price) × 100 = [ ]%

Local checkpoints before you close

• Verify current Wake County recording fees and deed requirements with the Register of Deeds.
• Confirm tax proration and due dates with the Wake County Tax Office or your closing attorney.
• Ask your closing attorney or title company to confirm who pays for the owner’s title policy based on your contract.
• Get updated quotes from your lender and insurance provider before your final walkthrough.

Ready to run your numbers and craft a strong offer? Reach out to Lindy Mauney for a quick strategy call. You will get local guidance tailored to Cary, help comparing Loan Estimates, and a plan to keep your cash to close predictable and on track.

FAQs

How much do Cary buyers pay beyond the down payment?

• Many Cary buyers see closing costs of about 2% to 5% of the purchase price, plus prepaid taxes and insurance based on the property and closing date.

Can a seller pay my closing costs in Cary, NC?

• Yes. Seller credits are negotiated in the contract and are subject to your loan program’s limits based on loan type and down payment.

Who typically pays for owner’s title insurance in North Carolina?

• It is negotiable. In some areas the seller pays as a market convention, but either party can cover it based on your contract.

What are typical real estate commissions for Cary sellers?

• Total commissions commonly range from 5% to 6% of the sale price and are negotiated between the seller and listing broker.

How do taxes and closing date affect my cash to close?

• Taxes are prorated at closing and lenders may collect escrow deposits. Your closing date changes the proration and the number of months collected up front.