A real estate agent standing with a clipboard next to a sign with a "SOLD" sticker across it.

A real estate agent standing with a clipboard next to a sign with a "SOLD" sticker across it.

Buying land isn’t a simple process. From securing financing to paying for an appraisal, there are all sorts of things that you’ll need to handle in order to buy land in Texas. One of the last steps you’ll take is paying for closing costs.

Keep reading to learn what closing costs are and how much closing costs are on land for sale in Texas from experienced Brownsville land developers.

What Are Closing Costs?

When you buy a home or a piece of land for sale, paying for the property itself isn’t the only expense you’ll need to cover. Instead, there are a series of smaller payments that you’ll likely need to make to a variety of different parties in order to carry out the purchase. Closing costs include the expenses associated with the process of buying property.

What’s Included in Closing Costs?

Buying land isn’t a small decision, and there are lots of norms, rules, and regulations in place to protect us and our interests during a land purchase. Meeting these expectations is an important part of making sure you’re buying the right piece of land for the right price. 

Usually, each party pays different closing costs, which include: 

What You Might Owe

  • Appraisal fees
  • Credit report fee
  • Loan application fee
  • Prepaid costs

What the Seller Might Owe

  • Mortgage payoff
  • Attorneys fees
  • Outstanding bills
  • Real estate agent commission
  • Seller concessions

What You Both May Owe

  • Notary fees
  • Title search and insurance
  • Escrow fees
  • Prorated property tax
  • Recording fees
  • Municipal lien search

How Much Are Closing Costs on Texas Land Purchases?

There are many factors that can affect your total closing costs, and the amount you’ll pay can vary widely depending on those factors. Closing costs on land purchases in Texas usually fall between 1% and 5% of the total cost of the land. According to Bankrate, that’s an average of just over $4,500 for Texans, roughly 1.5% higher than the national average. 

From attorneys fees to title insurance, there are all sorts of added expenses you may face when you buy land in Texas. Reach out to us at Union Design Developers to learn more about the closing costs you’ll pay when buying acreage for sale in Texas.

Find Land for Sale in Brownsville With Union Design Developers

For centuries, buying land has been considered one of the smartest investments a person can make, but that doesn’t make it any less complicated. There are several steps you’ll need to go through before you can buy land in Texas.

Buying land might not be simple, but you can make it easy by working with Union Design Developers to find the perfect lot for sale for your dream home or business venture. We can help you every step of the way, from the search to development. Get in touch with us today to get started!

Ready to find the right piece of land for your dream home or business venture? Reach out to Union Design Developers today to get started!

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