Closing Costs in Pennsylvania
What buyers and sellers actually pay at closing — and what's negotiable.
What are closing costs in Pennsylvania?
Closing costs are the fees and taxes both sides pay to complete a real estate transaction, on top of the purchase price. In Pennsylvania — and especially in Philadelphia — they can be significant, largely because of the realty transfer tax.
What each side typically pays
Buyers generally cover lender fees, title insurance, and recording costs, while both sides usually split the transfer tax by custom. Sellers pay their share of transfer tax and any payoff and broker costs. Many of these are negotiable in the agreement of sale, so "customary" is a starting point, not a rule.
Why it matters
Closing costs affect the real economics of a deal and should be modeled before signing — a large transfer-tax allocation, for example, can swing thousands of dollars. Confirming who pays what up front prevents surprises at the table.
How Nochumson P.C. helps
Nochumson P.C. guides buyers and sellers through closing and makes sure cost allocations are handled correctly in the contract. Contact us before your closing.
Related articles:
- Agreement of Sale in PA Real Estate: Buyer's & Seller's Guide
- How Escrow Works in a Real Estate Deal
- Contingencies in a Real Estate Contract
- Earnest Money Deposits: Rules & Risks
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