Closing costs catch first-time buyers off guard. Here's a breakdown of what you'll pay in Washington and Oregon — and what's negotiable.
Written by Andrew Moran · Loan Officer · GoRascal | NMLS #1264497
Expect 2-5% of the purchase price in closing costs. On a $500K home, that's $10K–$25K on top of your down payment. The exact amount depends on your loan type, location, and what you negotiate with the seller.
Washington has a real estate excise tax (REET) paid by the seller, which is good news for buyers. Buyer closing costs in WA typically include loan origination (0.5-1%), title insurance ($1,500-$2,500), escrow fees ($1,000-$1,500), recording fees, prepaid taxes and insurance, and home inspection ($400-$600).
Oregon closing costs are similar but with some differences. Oregon doesn't have a transfer tax for most transactions (unlike many states). Title insurance and escrow fees are comparable. The biggest variable is county-specific recording fees and prepaid property taxes, which vary significantly between Multnomah, Washington, and Clackamas counties.
Seller concessions can cover some or all closing costs — especially in a buyer's market. Lender credits (accepting a slightly higher rate in exchange for reduced fees) are another option. Some loan programs (FHA, VA) allow seller contributions up to 6%. Use the closing cost calculator to estimate your total and see where negotiation makes sense.
Related reading
What Happens at Closing in Washington State?
A step-by-step walkthrough of the closing process in Washington — what to expect in escrow, what to bring on closing day, and when you actually get the keys.
Home Inspection Contingency in Washington: What Buyers Need to Know
The inspection contingency is one of the most important protections a buyer has in a Washington real estate transaction. Here's how it works, what inspectors look for in PNW homes, and how to think about waiving it in a competitive market.
How to Make a Competitive Offer in Washington State
Winning a home in a competitive PNW market isn't just about offering the most money. Here's how to structure an offer that gets accepted — price, terms, earnest money, escalation clauses, and contingency decisions.