Closing Costs in West Virginia
The average closing cost in West Virginia is $10,349, which is 6.1% of the home price. West Virginia's transfer tax rate is $1.10 per $500 (+ $0.55).
Avg Closing Costs
$10,349
As % of Price
6.1%
Transfer Tax
0.33%
Attorney Required
Yes
Closing Cost Breakdown for a $169,759 Home
| Item | Estimated Cost |
|---|---|
| Loan Origination Fee (1%) | $1,358 |
| Appraisal Fee | $500 |
| Credit Report | $50 |
| Title Search & Insurance | $849 |
| Transfer Tax | $560 |
| Recording Fees | $150 |
| Home Inspection | $400 |
| Survey | $350 |
| Attorney Fee (required) | $1,200 |
| Prepaid Property Tax (2 months) | $136 |
| Prepaid Homeowners Insurance (1 year) | $509 |
| Prepaid Interest (15 days) | $363 |
| Estimated Total | $6,425 |
* Estimates based on average West Virginia home price of $169,759 with 20% down payment. Actual costs may vary. Transfer tax, attorney fees, and prepaid items are state-specific.
How to Reduce Closing Costs in West Virginia
Negotiate Seller Concessions
Ask the seller to cover part of your closing costs. In West Virginia, sellers can typically contribute up to 3-6% of the sale price toward buyer closing costs.
Shop Multiple Lenders
Origination fees and lender charges vary significantly. Get Loan Estimates from at least 3 lenders and compare the “Loan Costs” section.
Use First-Time Buyer Programs
West Virginia offers programs like WVHDF Homeownership Program that can help with closing costs.
Close at End of Month
Closing near the end of the month reduces the prepaid interest charges, which can save you hundreds of dollars.
Legal Context for West Virginia Closings
Conveyance Document
General-warranty, special-warranty or quitclaim deed
Security Instrument
Deed of trust; mortgage sometimes used
Foreclosure Process
Non-Judicial
Attorney Required
Yes
West Virginia uses general-warranty, special-warranty or quitclaim deed for property transfers and deed of trust; mortgage sometimes used as the security instrument. An attorney is required at closing, which adds to your closing costs.
