The Triangle Area and Eastern North Carolina lead the state with counties that have the lowest residential real estate closing costs, according to a report by personal financial website SmartAsset.
Closing costs – which include expenses relating to obtaining a loan, title insurance costs, and prepaid insurance premiums and taxes, among other items – range from 1 percent to 5 percent of the purchase price, with the national average being 2.2 percent.
In North Carolina, those costs average 1.8 percent, but several counties, including four in the Triangle Area, are lower than that. Five coastal or eastern North Carolina counties and one western county are among the lowest.
Here are the 10 counties with the lowest closing costs as a percentage of the median purchase price (Triangle Area counties are in bold):
1. Dare (1.3%)
2. Orange (1.4%)
3. Wake (1.5%)
4. Watauga (1.5%)
5. Currituck (1.6%)
6. Chatham (1.6%)
7. Camden (1.6%)
8. New Hanover (1.6%)
9. Moore (1.7%)
10. Carteret (1.7%)
Team Anderson Realty, located at 2108 Werrington Drive Holly Springs, NC 27540, was established in 2005 and specializes in Wake County real estate. If you or someone you know is looking to buy a home, start your free home search today! Or call us at 919-610-5126 if you are thinking about selling your home to learn about our marketing plan that will get your home SOLD!