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August 22, 2026 · TrustPro Admin
Closing Costs Explained
Who pays what at closing — and why the settlement statement often surprises both buyers and sellers with fees they did not plan for.
Most buyers budget for the down payment and assume they're done. Then the settlement statement arrives with another 2–5% of the purchase price in fees they didn't plan for — lender charges, title insurance, taxes, escrow reserves, and recording costs that add up fast.
Sellers get their own surprise: after commissions, mortgage payoffs, and transfer taxes, the net proceeds check can look very different from the sale price.
This guide breaks down who pays what, why numbers change before closing, and how to avoid last-minute sticker shock.