Thinking about buying in Fort Mill or Indian Land and wondering if you will pay more or less at closing than in Charlotte? You are not alone. Many move-up buyers compare the two sides of the state line to plan their cash to close with confidence. In this guide, you will learn what makes up buyer closing costs, what typically changes between North Carolina and South Carolina near the border, real-world style examples, and a simple plan to get accurate numbers early. Let’s dive in.
Buyer closing cost basics
Closing costs are the fees and prepaids you pay to set up your loan and take ownership. National guidance shows buyers usually spend about 2 to 5 percent of the purchase price on closing costs, not counting the down payment. Your total depends on your loan type, local taxes and fees, and which prepaids your lender requires.
Common buyer costs and typical ranges:
- Lender and loan fees. Origination, application, underwriting, and processing often total about 0.5 to 1.5 percent of the loan amount. Discount points, if you choose to buy down your rate, add more.
- Appraisal. Often 400 to 800 dollars, higher for complex homes.
- Home inspections. A general inspection commonly runs 300 to 800 dollars. Specialty inspections, like pest, radon, or sewer scope, can add 100 to 1,000 dollars.
- Title and settlement charges. Title search, settlement or escrow fees, and the lender’s title policy together can range widely. A typical combined range is about 400 to 1,200 dollars for exam and closing fees, with title insurance premiums scaled by price or loan size.
- Title insurance. A lender’s policy is required. An owner’s policy is optional but recommended. Premiums often scale with price and can vary by state filings.
- Recording and document fees. Counties charge per document. These are usually modest but depend on how many pages or documents are recorded.
- Prepaid items and escrows. You may prepay the first year of homeowners insurance, some mortgage interest, and set up initial escrow deposits for taxes and insurance.
- HOA transfer or estoppel fees. If the home is in an HOA, plan for 100 to 500 dollars, sometimes more depending on the association.
- Survey. Sometimes required by the lender, often 300 to 700 dollars.
What buyers typically do not pay, but verify local custom:
- Real estate commissions are usually paid by the seller.
- The seller’s current mortgage payoff is the seller’s responsibility.
- Transfer taxes or stamp taxes often fall to sellers, yet local practice and contract terms control who pays. Confirm with your agent and closing team.
NC vs SC differences near the border
Costs shift across the state line for several reasons. Some fees are set at the state level, while others are driven by county offices, local property taxes, and community practices. Here is what to look for when comparing York County, South Carolina with Mecklenburg County, North Carolina.
Title insurance and settlement
South Carolina and North Carolina regulate insurance differently, and title insurance premiums often follow state filings. Premiums may not match from one side of the border to the other. For a clean comparison, ask a local title company or settlement attorney on each side for a written quote that includes the lender’s policy, optional owner’s policy, title search, and settlement or escrow fees.
Recording and transfer taxes
Recording fees come from county registers of deeds. The number of documents and page counts impact total cost. Some areas also have transfer or documentary stamp taxes. Who pays those taxes often follows local custom and the purchase contract. Confirm with your agent or closing attorney which party is expected to pay in your specific area.
Property taxes and escrows
Property tax rates, billing cycles, and assessment processes differ between York County and Mecklenburg County. Your prepaid tax amount and initial escrow deposit will depend on the home’s assessed value, local millage or rate, and the timing of your closing within the tax year. Check current tax schedules and ask for the latest bill to estimate prorations with your lender and title company.
Mortgage recording or intangible taxes
Some states charge taxes tied to recording a mortgage. Confirm with your lender if any state or local mortgage recording or intangible tax applies to your loan on either side of the line.
HOA and utilities
If the property is in an HOA, plan for transfer or estoppel fees. Municipal utility account setup can also vary by city versus unincorporated areas. Ask for HOA resale package fees and any town or utility setup costs early so they are included in your estimate.
Seller credits and local practice
Seller contributions to buyer closing costs vary by market conditions. In areas with stronger seller leverage, concessions are less common. In some suburban pockets or for certain property types, sellers may be more open to credits. Your agent can help shape a strategy based on current micro-market trends.
How the numbers add up
Below are two simple scenarios to show how cash to close is built. These are illustrative examples. Use them to understand the moving pieces, then replace every number with quotes from your lender and title company.
Example A: A 400,000 dollar purchase
Assumptions for an 80 percent loan-to-value conventional loan:
- Down payment: 20 percent, 80,000 dollars
- Lender fees and points: about 1 percent of loan, 3,200 dollars
- Appraisal: 600 dollars
- Inspections: 500 dollars
- Title and closing fees plus lender’s title policy: 1,200 dollars
- Owner’s title policy, optional: about 1,600 dollars
- Recording fees: 200 dollars
- First year homeowners insurance: 1,200 dollars
- Prepaid taxes and initial escrow deposit: 2,000 dollars
- HOA transfer: 250 dollars
- Prepaid interest for 15 days: about 650 dollars
Total closing costs and prepaids, excluding down payment, typically land around 11,400 to 13,000 dollars depending on whether you add the owner’s policy. Cash to close would be down payment plus closing costs, roughly 91,400 to 93,000 dollars.
Example B: A 600,000 dollar purchase
With similar assumptions at 80 percent loan-to-value:
- Down payment: 120,000 dollars
- Lender fees and points: about 1 percent of loan, 4,800 dollars
- Title costs and premiums scale up with price and loan amount
- Insurance and tax escrows also trend higher with a larger home
Estimated closing costs and prepaids, excluding down payment, can range about 16,000 to 20,000 dollars. Cash to close, including the down payment, often falls near 136,000 to 140,000 dollars.
How the state line can shift totals
- Title insurance and recording fees may differ by state and county, which can move the title portion by a few hundred dollars.
- Property tax prepaids and escrow deposits depend on assessed value and local tax rates. If York County and Mecklenburg County rates differ for your property, the escrow line can change by hundreds to low thousands.
- HOA or municipal transfers are community specific. Some associations and towns charge more than others.
- Negotiated seller credits reduce your cash to close. Seller appetite for concessions depends on local market dynamics and your offer terms.
Estimate your cash to close
Use this simple formula and then gather quotes to replace each placeholder with real numbers.
Cash to close = Down payment + Closing costs + Prepaids + Initial escrow deposit − Seller or lender credits
Start by requesting these items early:
- Loan Estimate from your lender within three business days of application. This outlines lender fees, points, prepaids, and escrow setup.
- Written title and settlement quote from a local title company or closing attorney on each side of the border. Ask for lender and owner policy premiums, search and settlement fees, and county recording costs.
- HOA resale packet and transfer fee details, if applicable.
- Property tax history and the current tax bill to calculate exact prorations.
- Recent utility and tax bills from the seller, when available, to verify assumptions.
Questions to ask your lender
- Which closing costs are required versus optional? Are discount points included, and do they make sense for my timeline?
- Will you require an escrow account for taxes and insurance? If yes, how many months of reserves?
- What are my prepaid items at closing, including daily interest and the first year of insurance?
- Are there any state or county mortgage recording or intangible taxes for my loan?
Questions to ask your title company or attorney
- Please provide a written quote for lender and owner title policies, plus title search and settlement fees.
- What are the recording fees for this county based on my expected documents?
- Will a survey be required, and what is the estimated cost and timeline?
Questions to ask your agent and the seller
- What is local custom on who pays what at closing? Are buyers currently winning concessions in this micro-market?
- Are there any builder incentives or seller credits that can be applied to my closing costs?
- What are the HOA procedures, transfer fees, and timing? Are there any outstanding assessments that would be prorated?
Timing tips for cross-state moves
- Compare at least two Loan Estimates for the same loan type and rate structure. Even small changes to lender fees or points can shift totals.
- Request title quotes early on both sides of the border. Title premiums and recording fees are a key source of difference between NC and SC.
- If you are selling in Charlotte and buying in Fort Mill or the reverse, plan for closing dates that match or allow for bridge options. Discuss temporary housing or rent-backs to reduce stress if dates do not align.
- If market conditions allow, consider asking for seller credits. Your agent can help right-size the request to support appraisal and underwriting.
Local resource checklist
- York County, SC: Register of Deeds, Tax Assessor, and Treasurer for recording fees, millage rates, and tax due dates.
- Mecklenburg County, NC: Register of Deeds, Tax Assessor, and Tax Collector for fee schedules and billing timelines.
- Local title companies and closing attorneys: request written quotes that include title premiums and recording estimates.
- Local lenders: obtain at least two Loan Estimates for a clear comparison.
When you compare Fort Mill or Indian Land to Charlotte, most of the difference in buyer closing costs comes from county fees, title insurance premiums set under state rules, property tax escrows, and local market customs on seller credits. If you collect the right quotes early and use one simple formula, you will know your cash to close with confidence and can write a stronger, cleaner offer.
Ready to map your numbers on both sides of the border and align your timelines? Reach out to Ashley & Scott Sofsian for white-glove guidance and a clear plan from first showing to closing.
FAQs
What are typical buyer closing cost categories?
- Expect lender fees, appraisal, inspections, title and settlement charges, title insurance, recording, prepaids for insurance and interest, initial escrow deposits, and any HOA transfer fees.
How do NC and SC title insurance costs differ?
- Each state regulates insurance differently, so premiums may not match across the border. Get written quotes from a local title company or closing attorney in each state for an accurate comparison.
Who usually pays transfer or documentary stamp taxes?
- Local custom and the contract control who pays. In many places sellers pay these, but confirm with your agent and title company for your specific county and deal.
Will property taxes change my escrow on day one?
- Yes. Your initial escrow depends on the county’s tax rate, assessment, and your closing date. Ask your lender and title team to estimate deposits using the current tax bill.
Can I ask the seller to help with closing costs?
- Yes. Seller credits are a common negotiation tool. Willingness depends on local market conditions and the strength of your offer.
