Closing Costs in West Virginia, Explained

Not sure what you will owe at closing in West Virginia? You are not alone. Whether you are buying your first home or selling to move up, closing costs can feel confusing and easy to underestimate. This guide walks you through what these costs include, who typically pays each item, and how to build a realistic estimate for Jefferson, Berkeley, and Morgan Counties. Let’s dive in.

What closing costs include

Closing costs are the fees, taxes, prepaid items, and adjustments you pay at the transfer of real estate in addition to a down payment. These costs are charged to the buyer, the seller, or split based on your contract. They vary by lender, title company or attorney, and county fee schedules.

As a starting point, buyers commonly pay about 2% to 5% of the purchase price in closing costs, not counting the down payment. Sellers commonly pay about 6% to 10% when you include real estate commission. Your final numbers will depend on local practice and your specific deal.

Who pays what in WV

In West Virginia, many closing cost items follow national norms, but customs can vary by county and even by title company. For example, the owner’s title insurance policy is often paid by the seller in many WV transactions, though this is not universal. Transfer and recording charges are set by the county. Confirm who pays each line item with your contract and your closing agent.

Buyer closing costs: typical items

Most buyers in the Eastern Panhandle see a mix of lender charges, third‑party services, prepaids, and county fees. Here is what you can expect.

Lender and third‑party fees

• Origination and underwriting: usually 0.5% to 1.0% of the loan amount or a flat fee.
• Discount points: optional. One point equals 1% of the loan amount.
• Appraisal: typically $300 to $700.
• Credit report and processing: about $25 to $50 for credit; $300 to $1,000 for processing.
• Home inspection: usually $300 to $600. Specialty inspections like pest, radon, well, or septic add cost.
• Pest or termite inspection: about $75 to $250.
• Survey if required: about $300 to $900.

Title, insurance, and county charges

• Title search and lender’s title insurance: often 0.2% to 0.6% of the loan amount or per fee schedule.
• Owner’s title insurance: who pays varies by county and company. If the buyer purchases it, expect roughly 0.5% to 1.0% of the purchase price.
• Recording fees: typically $25 to $200 depending on county specifics.
• Settlement or closing fee: usually $200 to $900, depending on whether a title company or an attorney handles closing.

Prepaids and escrows

• Homeowner’s insurance: first‑year premium often $600 to $1,800 or more.
• Escrow deposits: many lenders collect about 2 to 4 months of property tax plus an initial insurance reserve.
• Prepaid interest: covers the daily interest from your closing date to the start of your first payment.
• HOA transfer or estoppel fees if applicable: commonly $100 to $400 or more.

Seller closing costs: typical items

For sellers, the largest expense is usually the real estate commission. Other costs include title items, prorations, and any negotiated credits.

Common seller charges

• Real estate commission: many markets use about 5% to 6% of the sale price, typically split between listing and buyer agents. Local rates vary.
• Owner’s title insurance: commonly paid by the seller in many WV transactions, though practices differ by county and title company.
• Prorated property taxes: you pay taxes for the portion of the year you owned the home.
• Payoff of mortgages and liens: per your payoff statements.
• Recording or transfer fees: county‑specific.
• Closing or attorney fee: often $200 to $800.
• Negotiated items: seller concessions to the buyer or repairs after inspection as agreed in the contract.

Local notes: Jefferson, Berkeley, and Morgan Counties

• Market context: Jefferson and Berkeley Counties sit near the Washington, DC region, so prices and competition can be higher than statewide averages. Morgan County tends to be more rural with lower median prices.
• Title and settlement: Some closings are handled by title companies, others by attorneys. The choice affects your settlement fee. Ask which is common for your property type and county.
• Recording fees and deed stamps: Each county publishes its own fee schedule. Amounts are usually modest, often in the tens to low hundreds. Confirm with the county recorder or your closing agent.
• Property tax proration: Get the current annual tax from the county assessor. Prorate by days owned in the tax year. A simple method is annual tax times days owned divided by 365.
• Concessions and competition: In a tight market, sellers may be less likely to cover buyer costs. In a slower market, concessions are more common. Your strategy should match current conditions in each county.

How to estimate your total costs

You can build a strong estimate with a few documents and a simple process. The key is to combine lender numbers, title estimates, county fees, and any negotiated items.

Step‑by‑step estimate

1. Gather your contract details: price, closing date, and any agreed concessions or prorations.
2. Ask your lender for a Loan Estimate. This outlines projected buyer costs, prepaids, and escrow deposits.
3. Request a pro forma closing statement from the title company or closing attorney. Ask for title policy quotes, settlement fees, recording charges, and prorated taxes.
4. Confirm county fees with the recorder or assessor in Jefferson, Berkeley, or Morgan.
5. Add your third‑party services: inspection, appraisal, survey, and HOA fees if applicable.
6. Buyers: include first‑year insurance, escrow deposits, and prepaid interest. Sellers: include commission and mortgage or lien payoffs.
7. Create a range: low, likely, and high. View the estimate in dollars and as a percent of price.

Examples by price point

These illustrations are for planning only. Your totals will shift based on loan type, county fees, and who pays the owner’s title policy.

• Example A: $200,000 home

  • Buyer at roughly 3.0%: about $6,000. Sample mix: appraisal $450, inspection $400, lender fees $1,500, title and lender policy $700, recording $150, prepaids and escrow $2,800, misc $400.
  • Seller at roughly 7.5%: about $15,000. Sample mix: 6% commission $12,000, owner’s title policy $1,000, prorations and fees $1,000.

• Example B: $350,000 home

  • Buyer range at 2.5% to 4%: about $8,750 to $14,000. At 3%: about $10,500 with appraisal $500, inspection $450, lender fees $2,625, title and lender $1,200, prepaids and escrow $4,500, recording $125.
  • Seller costs: 6% commission is $21,000. Adding title and prorations often totals about $23,000 to $28,000.

• Example C: $500,000 home

  • Buyer range at 2.5% to 4%: about $12,500 to $20,000.
  • Seller costs: 6% commission is $30,000. After title, prorations, and typical items, total often runs about $33,000 to $45,000.

Tips to plan and avoid surprises

• Ask early for written estimates. Request your Loan Estimate from the lender and a pro forma from the closing agent as soon as you are under contract.
• Decide on owner’s title insurance. Confirm local custom in your county and who will pay for the owner’s policy in your deal.
• Time your closing date. Closing near month‑end can reduce prepaid interest. Ask your lender how timing affects prepaids and escrow.
• Budget for inspections. Plan for general and any specialty inspections you might need for the property type.
• Track concessions. If you are a buyer seeking credits, know lender limits for your loan type. If you are a seller, weigh concessions against market conditions.

Next steps and local help

You deserve clear numbers before you decide. Start by pulling your contract and asking for your lender’s Loan Estimate. Then request a pro forma closing statement based on your county from a title company or closing attorney. With those in hand, you can refine your range and prepare with confidence.

If you want guidance tailored to Jefferson, Berkeley, or Morgan Counties, reach out to Mercedes M Prohaska for local insight and a practical plan from offer to closing.

FAQs

What are typical buyer closing costs in West Virginia?

• Most buyers pay about 2% to 5% of the purchase price, covering lender fees, appraisal, inspection, title and recording charges, prepaids, and escrow deposits.

Who usually pays the owner’s title insurance policy in WV?

• Custom varies by county and company. In many West Virginia transactions the seller pays, but confirm with your title company or closing attorney.

How do property tax prorations work in Jefferson, Berkeley, and Morgan?

• Your closing agent prorates taxes based on days owned in the tax year. A simple estimate is annual tax times days owned divided by 365.

Are there West Virginia transfer or recording fees at closing?

• Yes. Each county sets its recording fees and any document stamps. Amounts are typically modest and should be confirmed with the county recorder or your closing agent.

Can a seller cover some buyer closing costs in the Eastern Panhandle?

• Yes. Seller concessions are negotiable and depend on market conditions and lender limits. Your agent can advise on what is typical in your county and price point.