Closing Costs in Central Ohio: A Plain-Language Guide for Buyers and Sellers

Closing costs are one of the most common sources of surprise in a home sale. The purchase price is negotiated in plain sight, but the fees, credits, and prorations that show up on the final settlement statement can catch both buyers and sellers off guard. Here is what to expect in Central Ohio.

Costs Sellers Typically See

Mortgage payoff: The remaining balance on your loan, plus interest through the payoff date.
Real estate commissions: As set in your listing agreement. Commissions are negotiable and not set by law.
Conveyance fee: Ohio counties charge a fee when property transfers, which is typically paid by the seller in Central Ohio. In Franklin County, it is $3 per $1,000 of the sale price, so $1,020 on a $340,000 home. Rates vary by county.
Title and settlement fees: Fees for preparing the deed, clearing title, and conducting the closing. How these are split is set in the purchase contract.
Any agreed credits: Repair credits or concessions toward the buyer's closing costs or rate.

Costs Buyers Typically See

Lender fees: Origination, underwriting, appraisal, and credit report fees, plus any points paid to lower the rate.
Title insurance: The lender's policy is required with a mortgage. An owner's policy protects you.
Prepaids and Escrow: Homeowners insurance for the first year, plus reserves for future tax and insurance payments.
Inspections: Usually paid before closing rather than on the settlement statement.

All-in, buyer closing costs are commonly estimated at 2% to 5% of the purchase price, depending on the loan type and how much the seller contributes.

The Ohio Quirk That Surprises Everyone: Property Taxes Paid in Arrears

Ohio property taxes are paid in arrears, meaning each tax bill covers a period that has already passed. As a result, at closing the seller typically credits the buyer for taxes that have accrued but not yet been paid. That credit can be several thousand dollars, depending on the home and timing.

For sellers, it reduces your net proceeds. For buyers, it is a credit that offsets your costs, but you will be responsible for paying those taxes when the bill comes due. Planning ahead on both sides avoids a surprise.

How to Avoid Closing Day Surprises

Sellers: Ask for an estimated net sheet before you list and again when you review offers.
Buyers: Review your Loan Estimate as soon as you apply and compare it with your Closing Disclosure, which you should receive at least three business days before closing.

Everyone: Never wire funds based only on emailed instructions. Call your title company at a verified number to confirm.

Bottom Line

Central Ohio closing costs follow a predictable pattern once you know the pieces. Sellers should plan for the conveyance fee, settlement costs, and the property tax credit Ohio's arrears system creates. Buyers should budget roughly 2% to 5% of the price. A net sheet or Loan Estimate early on keeps closing day free of surprises.

Margaret Lipp | REMAX Premier Choice

Serving Upper Arlington, Dublin, Worthington, Clintonville, Hilliard, Powell, Grandview, and all Central Ohio communities

Conveyance fee source: Franklin County Auditor conveyance fee calculator ($3 per $1,000; a reduced rate applies when the grantor receives the homestead exemption). Other county rates differ. This post is general information, not legal, tax, or financial advice; actual costs depend on the contract, loan, and title company.

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