Buying or selling a home in Bartlett comes with a final number that surprises many people: closing costs. You plan for the price, down payment, and move‑in upgrades, but the last line on your closing statement can still feel confusing. You deserve a clear picture of what you will pay, who usually covers which fees, and how to estimate your total with confidence. This guide breaks it down for Bartlett and greater Shelby County so you can plan ahead and avoid last‑minute stress. Let’s dive in.
What closing costs include
Closing costs are the fees and prepaids tied to transferring a property and finalizing a loan. Some items are set by state or county, while others are lender or title company charges. A few are negotiable in your contract. In Shelby County, common parties you will hear about include the title or closing company, your lender, and local offices that handle recording and property taxes.
Many fees are standard in most transactions, but who pays them can vary by local custom. In Tennessee, some items are traditionally covered by one side, yet nearly everything is negotiable. Your contract and your title company’s settlement statements will show the exact allocation.
Who pays what in Bartlett
Buyer-side costs
- Lender fees: origination, underwriting, processing, credit report, and any optional points.
- Appraisal ordered by your lender.
- Title search and the lender’s title insurance policy.
- Prepaids: first year of homeowner’s insurance, prepaid interest, and escrow reserves for property taxes and insurance.
- Recording fees for the mortgage and some document fees.
- Inspections and surveys if required or chosen.
- HOA transfer fees, depending on the association rules and contract terms.
Seller-side costs
- Real estate commission, which is negotiated and typically paid by the seller.
- Payoff of any existing mortgage or liens.
- Recording fees for the deed and any mortgage release documents.
- Owner’s title insurance policy in many Southern markets, though this is negotiable and can vary by county and contract.
- Closing or settlement fee on the seller side.
- Any agreed repairs or credits.
Items commonly prorated
- Property taxes based on the closing date.
- HOA dues and certain utilities where applicable.
- Any prepaid assessments or rents for income properties.
How much to budget
- Buyers: plan for about 2 to 5 percent of the purchase price in closing costs, not including your down payment. This range covers lender charges, appraisal, title and lender policy, recording, and prepaids.
- Sellers: plan for about 6 to 10 percent of the sale price when you include commission. Other seller costs include the owner’s title policy if negotiated, recording, routine closing fees, prorations, and any credits.
These are estimates. Exact totals depend on loan type, credits, and what is negotiated in your contract.
Bartlett examples at 350,000 dollars
Buyer example
- Estimated buyer closing costs at 3 percent: about 10,500 dollars. This may include an appraisal, lender fees, title and lender policy, prepaids for taxes and insurance, and recording.
- Plus your down payment, which is separate from closing costs.
Seller example
- Commission at an assumed 6 percent: about 21,000 dollars.
- Other seller fees at roughly 1 percent: about 3,500 dollars.
- Estimated seller closing costs: about 24,500 dollars, before any mortgage payoff and liens.
What changes your total
- Loan type and lender pricing, including VA, FHA, USDA, or conventional.
- Mortgage points or lender credits that trade upfront costs for your interest rate.
- Who pays the owner’s title insurance policy, which is negotiated and can shift thousands between parties.
- Escrow requirements for taxes and insurance, often 2 to 6 months of reserves.
- Property tax timing and any special assessments.
- Commission structure and any seller‑paid credits for repairs or closing help.
How to get exact numbers
For buyers
- Apply with a lender to receive a Loan Estimate within three business days. It outlines your projected fees and prepaids.
- Three business days before closing, review your Closing Disclosure for the final numbers and ask questions about any changes. For a plain‑English walkthrough of the forms and process, use the CFPB guide to closing.
For sellers
- Ask your agent and title company for a seller net sheet early. Closer to contract and closing, your title or closing company will provide a seller settlement statement that shows payoffs, commissions, prorations, and your expected net.
Local offices and official guidance
- Confirm recording practices, deed questions, and local office contacts through Shelby County Government. You can navigate to the Register of Deeds, Trustee, and Assessor from the county site.
- For utilities, permits, and local contacts, check the City of Bartlett.
- For Tennessee taxes and transfer guidance, visit the Tennessee Department of Revenue.
- For licensing and consumer information, see the Tennessee Real Estate Commission.
- For broader homebuying resources, explore HUD homebuying resources and IRS guidance on homeowner taxes.
Title insurance and local custom
In many Southern markets, the seller often pays for the owner’s title insurance policy. In Tennessee, this can vary by county and by contract. In Shelby County, confirm the customary approach with your title company before you write or accept an offer. If you prefer a different split, you can negotiate it in the purchase agreement.
Prorations and timing
Property taxes in Shelby County are prorated at closing based on the date you transfer ownership. The seller typically covers the share that accrues up to the closing date, and you cover amounts after closing. Your title company calculates these prorations with input from the Shelby County Trustee and Assessor schedules.
Tips to plan and save
- Ask about seller concessions for closing costs, subject to your loan limits.
- Compare lenders and discuss rate options, points, and lender credits.
- Clarify who pays which title charges early, including the owner’s policy and closing fee.
- Request preliminary estimates from your title company to see line items and recording charges.
- Build a cushion for prepaids and escrow so your move does not feel tight.
Ready to run numbers for your Bartlett move and see what is customary right now? Connect with a Memphis neighborhood expert at Ware Jones for a personalized closing‑cost breakdown and a clear path to the finish line.
FAQs
In Shelby County, how much are buyer closing costs?
- Most buyers should plan for about 2 to 5 percent of the purchase price, plus the down payment, with exact figures set by your lender, title fees, and prepaids.
In Bartlett, who usually pays the owner’s title policy?
- Practices vary across Tennessee; in many Southern markets sellers often pay, but it is negotiable, so confirm with your title company and your contract.
What documents show my exact buyer costs before closing?
- You will receive a Loan Estimate within three business days of application and a Closing Disclosure three business days before closing that itemize your charges.
Are there Tennessee transfer or recording taxes to plan for?
- Tennessee has state‑level transfer and recording requirements; check current guidance through the Tennessee Department of Revenue and the Shelby County Register of Deeds.
When are property taxes prorated in Shelby County?
- Taxes are typically prorated at closing based on the date of transfer, with the seller covering the period up to closing and the buyer covering after.
Can a seller help pay a buyer’s closing costs in Bartlett?
- Yes, sellers can agree to concessions toward buyer closing costs, subject to loan program limits and what is negotiated in the contract.
