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On average, closing costs make up two to five percent of the purchase price of a home. Two percent doesn't seem like a high number, until you remember that houses are pretty expensive. With the average home price at $152,000, that means you can expect to pay an extra $3,000 to $7,600. And that's just on average.
High closing costs and fees can cut into the profit a seller is expecting to pocket from the sale of his or her home or increase the amount of money the seller needs to come to the closing if the seller owes more money on his mortgages than the amount he or she will net from the sale of the home. A buyerâs closing costs might typically range from 2 to 7 percent of the sales price, or $2,000 to $7,000 on the purchase of a $100,000 home. But a sellerâs closing costs often go way beyond that, simply because most sellers use a full-service agent to sell their home, which can add an additional 4 to 7 percent to the closing cost total.