Wondering how much you will pay to close on a Dundee home? You are not alone. Closing costs can feel confusing, especially when you see line items from lenders, title, escrow, and the county. This guide breaks down what those fees cover, what buyers and sellers in Dundee typically pay, and how you can plan, negotiate, and avoid last‑minute surprises. Let’s dive in.
Closing costs at a glance
Closing costs are the one‑time fees and prorations due when a property changes hands. They are separate from your down payment and your monthly housing costs. These fees pay third parties such as your lender, title and escrow, the county, and inspectors, and they also include prorations between buyer and seller.
- Buyers commonly pay about 2% to 5% of the purchase price when financing. Cash buyers typically pay less because there are no loan fees.
- Sellers commonly pay about 6% to 10% of the sale price when you include broker commissions, plus escrow, title, recording, and prorations.
Your final number depends on loan type, lender fees or points, who pays for the owner’s title policy, property taxes and HOA items, and any negotiated credits.
Buyer closing costs in Dundee
Typical totals
If you use a mortgage, expect your closing costs to land near 2% to 5% of the purchase price. That range covers lender charges, appraisal, title and escrow, county recording, prepaid taxes and insurance, and inspections. Cash buyers still pay for title/escrow and recording, plus any inspections they choose, but skip loan costs.
Line‑item breakdown
Here are the most common items you will see on your buyer side:
- Loan application, processing, and origination fees: typically 0.5% to 1.5% of the loan amount or a flat fee.
- Discount points: optional. One point equals 1% of the loan. Points buy down your interest rate.
- Appraisal: usually 400 to 900 dollars.
- Credit report: about 25 to 60 dollars.
- Underwriting or broker fees: amounts vary by lender.
- Lender’s title insurance policy: one‑time premium, often in the hundreds to low thousands.
- Owner’s title insurance: who pays is negotiable. Local custom can vary, so confirm with your escrow officer.
- Escrow or settlement fee: often 300 to 1,000 dollars. Splits vary by local practice.
- County recording: usually 50 to 300 dollars depending on documents.
- Transfer tax: Oregon has no statewide real estate transfer tax. Local transfer taxes are uncommon. Confirm with your title or Yamhill County if any special fees apply.
Prepaids and inspections
Your lender will require some upfront prepaids and reserves:
- Homeowner’s insurance: typically the first year paid at closing.
- Prepaid interest: per‑day interest from closing until your first payment.
- Escrow or impound startup: many lenders collect about two months of tax and insurance reserves.
- Property tax proration: you and the seller settle the portion of the year each side owns the home.
Common inspections and due diligence:
- General home inspection: about 300 to 600 dollars.
- Pest inspection: about 75 to 250 dollars.
- Septic and well testing if applicable: often 300 to 1,000 dollars or more depending on scope.
- HOA transfer and reserves if in a community association: amounts vary.
Example buyer budget
On a financed 500,000 dollar purchase, 3% in buyer closing costs equals 15,000 dollars. That could include lender fees, appraisal, lender’s title policy, escrow fees, county recording, and your prepaids for taxes and insurance.
Seller closing costs in Dundee
Typical totals
Sellers usually see the highest cost in broker commissions, commonly 4% to 6% of the sale price in total, which is negotiable. When you add title, escrow, recording, prorated taxes, potential credits to the buyer, and any repair items, many sellers land near 6% to 10% in total closing costs before mortgage payoff.
Line‑item breakdown
Expect to see some or all of the following:
- Real estate broker commission: commonly 4% to 6% total of sale price. The structure is negotiable.
- Owner’s title insurance policy: who pays is negotiable, and local custom can vary.
- Escrow or settlement fee: often 300 to 1,000 dollars. Splits vary by local practice.
- Recording fees for deed and mortgage release: generally 50 to 200 dollars.
- Prorations and payoffs: property taxes for the portion of the year you owned, payoff of your mortgage and any liens, plus any prepaid HOA dues settled at closing.
- Seller concessions: a credit to help the buyer with allowable closing costs if negotiated.
- Repairs or credits in lieu of repairs, and any escrow holdbacks.
- Transfer tax: Oregon does not impose a statewide transfer tax. Confirm no local transfer charges apply.
Example seller math
On a 600,000 dollar sale with a 5.5% total commission, commission would be 33,000 dollars. Add roughly 2,000 dollars for title, escrow, and recording plus prorated taxes or HOA adjustments. Your net then deducts your mortgage payoff and any agreed credits or repairs.
Local Dundee and Yamhill County factors
Dundee sits in Yamhill County, so a few local items can shape your bottom line:
- Property taxes: Oregon taxes are prorated at closing. Check the county’s payment calendar and assessed value schedule when budgeting.
- Recording: Yamhill County sets document recording fees. Your escrow team will calculate the exact total based on the number and type of documents.
- Septic and well: Many rural and acreage properties around Dundee use private systems. Budget for inspections, water testing, and review of permits and maintenance records. Lender requirements can apply, especially for VA, FHA, or USDA loans.
- HOA and planned communities: If your property is in an association, plan for transfer fees, estoppel certificates, and any upfront reserves your lender requires.
- Seasonal timing: Agricultural cycles can influence access for inspections and appraisals. Plan early to avoid scheduling delays.
Timeline and required disclosures
Most financed purchases close in about 30 to 45 days. Cash deals can close in 7 to 14 days if title is clear and inspections finish on time.
- Loan Estimate: Your lender must provide this within three business days of loan application. It lists your expected costs.
- Closing Disclosure: You must receive this at least three business days before closing. Compare it to your Loan Estimate and ask about any changes.
- Oregon disclosures: Sellers typically provide the Oregon seller residential property disclosure form unless exempt. Homes built before 1978 require a lead‑based paint disclosure.
Negotiation moves that can save you
You have options to shape who pays what at closing. Here are proven levers that buyers and sellers use:
- Owner’s title policy: Decide who pays. In many Western markets sellers often cover it, but this is negotiable. Confirm local practice in Dundee with your escrow officer.
- Seller credits: A seller can credit a buyer for some or all allowable closing costs. Loan rules set the cap, so ask your lender about FHA, VA, USDA, or conventional limits.
- Price versus credits: You can raise the purchase price and add a credit to cover closing costs, or keep price lower with fewer credits. Model the trade‑offs with your lender and agent.
- Commission structure: Sellers can negotiate commission. Discuss how pricing, marketing, and service level align with your goals.
- Repairs: Decide between doing repairs or giving a credit. Credits can prevent contractor delays and still help the buyer.
Assistance programs and loan types
Oregon buyers may have access to state programs and loan options that affect closing costs:
- Oregon Housing and Community Services: Some programs offer down payment and closing cost assistance for first‑time and income‑qualified buyers. Funding and eligibility can change, so verify current options.
- FHA, VA, and USDA loans: Each has rules on seller concessions and may require certain inspections. VA, for example, allows sellers to pay some costs but caps total concessions.
- Lender credits and points: You can choose to pay points to lower your interest rate, or accept a lender credit to reduce upfront costs in exchange for a slightly higher rate. Run the breakeven math before deciding.
Smart prep checklist
Use these quick steps to stay ahead of costs and timelines.
Buyers
- Request and compare at least two Loan Estimates to understand fee differences.
- Budget for inspections, prepaids, and a cushion for septic or well testing if applicable.
- Ask your agent and escrow team about who typically pays owner’s title in Dundee and how escrow fees are split.
- Confirm HOA transfer fees early if the home is in an association.
- Review your Closing Disclosure line by line when you receive it and ask questions right away.
Sellers
Ask for an estimated net sheet early and update it after you accept an offer.
Order mortgage payoff demands close to your closing date to capture accurate per‑diem interest and fees.
Gather HOA documents and dues information if applicable.
Decide on repairs versus credits and align your timeline with contractors if needed.
Confirm recording and any release fees with escrow so you can plan your final proceeds.
Closing costs do not have to be a surprise. With clear estimates, local know‑how, and strong negotiation, you can control what you pay and close with confidence in Dundee. For tailored numbers and a strategy that fits your goals, connect with Chandler Willcuts. With 600 plus successful sales and deep Willamette Valley roots, you get white‑glove guidance and a smooth path to the finish line.
FAQs
Who usually pays the owner’s title policy in Oregon?
- Custom varies by market, and it is negotiable. In many Western states sellers often pay the owner’s policy, but confirm local practice in Dundee with your escrow team.
Are there real estate transfer taxes in Oregon?
- Oregon has no statewide documentary transfer tax. Always confirm with Yamhill County or your title company for any local fees or special assessments.
When will I receive my final closing figures as a buyer?
- Your lender must provide the Closing Disclosure at least three business days before closing. Compare it to your Loan Estimate and ask about any changes.
Can a seller pay the buyer’s closing costs in Dundee?
- Yes. Seller concessions are common. The maximum credit depends on the buyer’s loan type, so check FHA, VA, USDA, or conventional limits with the lender.
Do I need septic or well inspections near Dundee?
- Inspections are strongly recommended for homes with private systems and may be required by some lenders. Plan for testing, permit history review, and potential maintenance items.
