Gibbs Realty Inc. | Holden, MA Real Estate, Rutland, MA Real Estate, Paxton, MA Real Estat


The process of closing on a home can seem lengthy and complex if it’s your first time buying or selling a house. There are several costs and fees required to close on a home, and while it’s up to the individuals to decide who covers what costs, there are some conventions to follow.

In this article, we’re going to talk about closing costs for selling a house and signing on a mortgage. We’ll discuss who pays what, and whether there is room for negotiation within the various fees and expenses.

But first, let’s talk a little bit about what closing costs are and what to expect when you start the process of buying or selling a home.

Closing costs, simplified

If you’re just now entering the real estate market, the good news is you can often estimate your closing costs based on the value of the property in question. You can ask your real estate agent relatively early on in the process for a ballpark figure of your costs.

Closing costs will vary depending on the circumstances of your sale and the area you live in. In some cases, closing costs can be bundled into your mortgage, such as in “No Closing Cost Mortgages.” However, avoiding having to deal with closing costs often comes at the expense of a slightly higher interest rate.

If you are planning to buy a house and have recently applied for a mortgage, laws require that your lender sends you an estimate of your closing costs within a few days of your application.

Now that we know how closing costs work, let’s take a look at who plays what.

Buyer closing costs

In terms of the sheer number of closing costs, buyers tend to have the most to deal with. Fortunately, your real estate agent will help you navigate these costs and simplify the process.

They can range from two to five percent of the cost of the sale price of the home. However, be sure to check with your lender for the closest estimate of your closing costs. It’s a good idea to shop around for mortgage lenders based on interest rates as well as closing costs charged by the lender.

Here are some of the costs you might be asked to pay as a home buyer:

  • Appraisal fees

  • Attorney fees

  • Origination fees

  • Prepaid interest or discount points

  • Home inspection fee

  • Insurance and Escrow deposits

  • Recording fees

  • Underwriting fees

Seller Closing Costs

While the seller pays a larger amount of closing costs, sellers still have obligations at closing that can be just as expensive. The biggest expense for sellers is to pay the real estate commission. Commission usually falls in the vicinity of 6% of the sale price of the home. This covers the commission of both the seller’s and the buyer’s real estate agents. 


The main takeaway? Buyers and sellers both share the burden of closing costs. While the buyer has more expenses to take care of, the seller pays for the largest costs.



169 Mason Road, Holden, MA 01520

Single-Family

$539,900
Price

8
Rooms
4
Beds
2/1
Full/Half Baths
This 4BR Colonial is ready NOW with many updates including NEW Kitchen, Freshly Painted Interior, Crisp White Woodwork, and Hardwoods. The Kitchen features new cabinets, quartz counter top with custom edge finish, glass subway tile backsplash, stainless appliances, and access to the oversized composite deck for hours of enjoyment in your inground pool with ultimate privacy. Flowing from the kitchen is the family room, dining room with a large bay window and living room both with hardwood floors, crown molding and custom trims. The master suite includes an updated bathroom with tiled shower and glass door and walk in closet. Three spacious bedrooms and a full bath with a dual vanity add to this home. Bonus finished lower level also includes an in home office, oversized 2-car attached garage, lush gardens and lawn, young roof and Marvin windows – just move in. Welcome Home!
Open House
Sunday
September 22 at 11:00 AM to 12:30 PM
Can't be beat - PRIVATE corner lot, established landscaping, In Ground pool, updates galore - roof, windows, kitchen, bath, flooring, interior paint - Better Than New!
Cannot make the Open Houses?
Location: 169 Mason Road, Holden, MA 01520    Get Directions

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13 Milne Road, Rutland, MA 01543

Single-Family

$390,000
Price

7
Rooms
3
Beds
3/1
Full/Half Baths
MUST SEE – Custom Cape on 2.25+ AC – 2 Car Attached Heated Garage w/3rd Bay AND Outbuilding w/electricity, woodstove AND 3 Grg Doors – perfect for contractor, hobbyist, extra storage – IT'S HERE! FLEXIBLE floor plan offers 3BRs – optional 1st flr Master and 2 on 2nd flr (one could be Master too w/Master Bth tiled oversized shower!). Hardwoods on 1st flr w/radiant heat, Cherry Kitchen w/vaulted ceilings/skylights and walk in pantry, FR w/gas FP, Living Room, Office & laundry. BONUS ROOM above garage w/wide pine floors & skylights. Buderus Boiler, Superstore Hot Water Storage Tank, Generator Connection, Walk-Out Lower Level for expansion options. Located in the heart of the Wachusett Community and all it has to offer. Welcome Home!
Open House
Sunday
September 22 at 11:00 AM to 12:30 PM
Aggressive NEW Price - Open Floor Plan - Beautiful Kitchen - Private Setting - PLUS Outbuilding with Heat and Electricity.
Cannot make the Open Houses?
Location: 13 Milne Road, Rutland, MA 01543    Get Directions

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This Single-Family in Holden, MA recently sold for $439,000. This Colonial style home was sold by Office Gibbs - Gibbs Realty Inc..


82 Bull Run, Holden, MA 01520

Single-Family

$444,900
Price
$439,000
Sale Price

9
Rooms
4
Beds
3
Baths
Don't Miss this Move In Ready Spacious Young Colonial in a Fabulous A++ Neighborhood Setting! Very Generous Rooms on every level & a nice Open Floor Plan. Beautiful Hardwood Flooring, Wainscotting, Crown Molding are some of the finishes in this Neat as a Pin home. Large Kitchen w/Center Island, Tile Backsplash, Lots of Cabinet Space & Dining Area flows into the Massive Great Room w/Cathedral Ceiling, Windows Galore & Fireplace w/Quadra-Fire Pellet Insert (2017). Rear Deck overlooks a serene wooded area & features a retractable awning w/screens. Formal Dining Room, Full Bath w/Laundry & Play Room/Office Space finishes out first fl. 2nd level offers a Spacious Master Suite w/Walk-in Closet & Master Bath, 2 additional Bedrooms & Full Bath. Private 3rd fl Bedrm has tons of space to relax and lots of storage. Don't forget about the Finished Walk-out Lower Level - Wonderful Family Space and Mud Room entry from garage. Easy Access to Highway.

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13 Milne Road, Rutland, MA 01543

Single-Family

$390,000
Price

7
Rooms
3
Beds
3/1
Full/Half Baths
MUST SEE – Custom Cape on 2.25+ AC – 2 Car Attached Heated Garage w/3rd Bay AND Outbuilding w/electricity, woodstove AND 3 Grg Doors – perfect for contractor, hobbyist, extra storage – IT'S HERE! FLEXIBLE floor plan offers 3BRs – optional 1st flr Master and 2 on 2nd flr (one could be Master too w/Master Bth tiled oversized shower!). Hardwoods on 1st flr w/radiant heat, Cherry Kitchen w/vaulted ceilings/skylights and walk in pantry, FR w/gas FP, Living Room, Office & laundry. BONUS ROOM above garage w/wide pine floors & skylights. Buderus Boiler, Superstore Hot Water Storage Tank, Generator Connection, Walk-Out Lower Level for expansion options. Located in the heart of the Wachusett Community and all it has to offer. Welcome Home!
Open House
No scheduled Open Houses

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